KEY EVENTS OF THE WEEK AHEAD
Second-quarter GDP data will give policymakers an indication of the overall macroeconomic situation, while RBI’s stance on interest rates can potentially move markets.
MONDAY, NOVEMBER 30
GDP DATA FOR JULY-SEPT QUARTER: The ministry of statistics and programme implementation (Mospi) will release the gross domestic product (GDP) figures for July-September quarter. GDP growth had slowed down to 7% in the April-June quarter from 7.5% in the Jan-March quarter. Analyst expect the new GDP growth figures to be around 7.3%.
TUESDAY, DECEMBER 1
RBI’S MONETARY POLICY REVIEW: The Reserve Bank of India will announce its fifth bi-monthly policy review for 2015-16. The central bank, which had cut rates by 50 basis points in its last policy review in September, is expected to hold key rates unchanged this time around as consumer price index-based inflation has started rising.
FINMIN, BANKS MEET ON GOLD SCHEME: The finance ministry will hold a meeting with banks and RBI representatives to review the gold monetisation scheme, which has seen a lukewarm response since its launch earlier this month. The scheme was able to garner only 400 gm of physical gold till November 18.
FRIDAY, DECEMBER 4
OPEC MEET: The 12-nation Organisation of Petroleum Exporting Countries (OPEC) will hold its output meeting to decide on whether or not to cut oil production. OPEC countries have maintained high output in the wake of falling prices, which are hovering around multiple-year lows in spite of geopolitical tensions in West Asia and Europe.