Sunday, August 1, 2010

Economy Update:July 16, 2010; Fortnightly round up of key banking and economic indicators

Fortnightly round up of key banking and economic indicators

·      The growth in the non food credit dropped to 21.6% for the week ending July 16, 2010, while deposit mobilization growth dropped to 14.5%.

·      As a result the CD ratio climbed dropped marginally to 73.2% for the week ended July 16, 2010.

·      Call money rate stands at 5.63% as on July 27, 2010 and is likely to stay around the upper end of the LAF band, i.e., repo rate. The spread between call money and reverse repo rates have eased after the policy rate hike on July 27, 2010.

·      Liquidity remained tight, with repo balances at Rs681.8bn. for the week ended July 23, 2010. This situation of dry liquidity is here to stay. With the narrowing of the LAF corridor to 125bps, the call money rate movement is likely to see lesser volatility.

·      The spread between the long and short end OIS stood steady at 81bps as on July 30, 2010 as the expected increase in the policy rates has materialised.

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