Macro Updates
Daily borrowing in federal funds rose to USD 120bn on 27 January, according to New York Fed data published Monday, up from USD 113bn in the previous session – an indication that Federal Reserve tightening is putting increasing pressure on liquidity in the banking system. That marked the highest level since at least 2016.
On India; the IMF said that it expects growth to moderate to 6.1% in 2023 from 6.8% in 2022.
January 31, 2023