Indian stocks settled lower on Thursday in line with weakness in the US markets, which declined sharply overnight as the US Federal Reserve went ahead with its further monetary policy tightening to bring down inflation to its target even as volatility in the banking system continued due to r
The US monetary policy committee, seeking to achieve maximum employment and inflation at the rate of 2 per cent over the longer run, hiked the key interest rate by 25 basis points to 4.75-5.0 per cent at its latest two-day review meet.
"Depositors will have access to all of their money starting Monday, March 13. No losses associated with the resolution of Silicon Valley Bank will be borne by the taxpayer," read the statement.
Consumer inflation in the US moderated to 6.4 per cent in January from 6.5 per cent in December, and 7.1 per cent the previous month but still is way above the 2 per cent target.
The two teams, based out of Kerala, will be facing each other on Saturday in front of a jam-packed Kochi crowd at the Regional Sports Centre, Kochi. The anticipation is high among fans for the Kerala derby and among players, there is much excitement as well.
Ahmedabad Defenders are being viewed by fans as outside title contenders. On the other hand, Calicut Heroes are pegged to be the favourites after their thrilling last-minute win over the defending champions Kolkata Thunderbolts.
Calicut Heroes beat Kolkata Thunderbolts in Prime Volleyball League. Jerome Vinith was named the Player of the Match as Calicut completed a hat-trick of wins.
With M Ashwin Raj and Jerome Vinith leading the scoring charts, the Calicut Heroes beat the Hyderabad Black Hawks 15-14, 15-12, 15-11, 4-15, 15-14. Ashwin was named the Player of the Match.
Hyderabad Black Hawks were outplayed by the defending champions Kolkata Thunderbolts in their second encounter, as they lost the game 1-4. Calicut Heroes lost to Mumbai Meteors in their first match.
The US central bank's policy rate is now in a target of 4.25-4.50 per cent, the highest level in 15 years, and notably, it was near zero in the early part of 2022.