Greek and EU-IMF negotiators were locked in last-chance talks on Sunday to avert a default by Athens that could pave the way for a catastrophic exit by Greece from the euro and sow economic chaos in Europe.
Turkish shares fell 6 percent in morning trade Monday and the lira plunged to a new record low against the dollar, as investors took fright at new political uncertainty following legislative elections.
The Reserve Bank is likely to go for a rate cut on or before the June 2 policy review as the CPI inflation fell to a 4-month low of 4.87 per cent in April and industrial output declined in March, say experts.
Most central banks have been easing policy since the start of the year and are set to do more, but it still isn`t clear whether that new activism, which has pushed stock markets to record highs, will help the global economy much.
European central banks have lent 110 billion euros to Greek banks, the head of France`s monetary authority said in comments published Monday, warning that any move by Athens to leave the eurozone would be "traumatic."
According to the data provided by the RBI to the Finance Ministry, Central Bank of India's 21.5 per cent assets are either bad or have been restructured to save them turning non-performing assets (NPAs).
Activity in China`s factory sector dipped to a 11-month low in March as new orders shrank, a private survey showed, signalling persistent weakness in the world`s second-largest economy that will likely fuel calls for more policy easing to support growth.
The German economy, Europe`s biggest, will notch up "strong" growth in the first half of 2015, driven by robust exports and buoyant consumer spending, the German central bank or Bundesbank said Monday.