that s less than a previous forecast of 5.4% the revised growth estimate is bad news for policymakers who are trying to ensure japan s economic recovery stays on track, amid rising commodity prices. now let s talk metals because russia is one of the top five global producers of steel, nickel and aluminium and prices have hit record highs since russia s invasion of ukraine. nickel soared past $100,000 a ton on the london metal exchange on concerns that supplies from russia will be disrupted. palladium is used by carmakers to reduce emissions, it has also jumped to all time highs as russia produces 30% of global supply. many businesses are now concerned how those rising prices will hit their businesses. joining me now is ole hansen, head of commodity strategy, saxo bank. good morning. no surprise we re seeing record highs for metals. supply will be disrupted from russia, it is a given, isn t
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Reserve Bank of India cuts growth estimate to 9.5%
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Reserve Bank of India cuts growth estimate to 9.5%
TNN / Jun 5, 2021, 06:36 IST
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NEW DELHI: The Reserve Bank of India (RBI) on Friday left key policy rates unchanged but slashed its growth estimate for 2021-22 to 9.5% from a projection of 10.5%, citing the impact of the second wave of the pandemic. The central bank, however, raised the inflation estimate a tad higher to 5.1% due to gathering price pressures.
RBI governor Shaktikanta Das said the second wave of Covid is associated with unexpectedly higher rates of morbidity and mortality relative to the first wave. The break out of mutant strains that render the coronavirus highly transmissible across both urban and rural areas has led to fresh restrictions on activity being imposed across a large swath of the country, he said.