The
Reserve Bank of India has cut its key interest rate by a quarter of a point to
6.25%, in a bid to boost the economy. RBI has forecast GDP growth of 7.4% for 2019-20
with the first half growth expected to be in the range of 7.2-7.4% and 7.5% in
the third quarter.
OPEC’s crude oil production in January was
30.98 million bpd, down by 890,000 bpd from December 2018, the largest monthly
decline in the cartel’s production since January 2017 when the initial
production cut deal began. OPEC’s Monthly Oil Market Report (MOMR) with
production data for January is scheduled to be released next on 12th February.
The benchmark RSS4 grade rubber closed at `.123.50
a kg at Kottayam, while RSS3 grade closed at `.114.48 a kg at
Bangkok and Malaysian SMR20 closed at `.95.66 a kg. On ICEX,
February 2019, the futures closed at `.123.30 a kg, March
at `.126.26, April at `.128.33, May at `.126.91,
June at `.128.17 and July closed at `.129.45 a kg. Tokyo
Commodity Exchange February 2019 futures series closed at ¥189.3 a kg, March at
¥182.3, April at ¥178.9, May at ¥178.9, June at ¥178.8 and the contract for
delivery in July 2019 closed at ¥179.2 a kg. On Wednesday, most probably Tocom
futures contract for delivery in July may trade in the range of ¥176 & ¥181
a kg.
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