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Global economy recovery is on track in 2014: RBI

Global economy recovery is on track in 2014: RBI

The Macroeconomic and Monetary Developments 2014-15 update is released by Reserve Bank of India along with its first bi-monthly monetary policy statement for 2014-15. As per the macroeconomic update, the recovery of the global economy is on track in 2014, though tightening financial conditions and the divergence in inflation pose risks. Since the January 2014 monetary policy statement, global growth outlook remains broadly unchanged though weaker initial data to some extent cloud optimism. Globa

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IEA expects muted demand for crude oil

IEA expects muted demand for crude oil

According to International Energy Agency (IEA), demand for oil across the globe would remain muted because of worsening Chinese business sentiment, a slowdown in European economies and the impact of budget cuts by the US government. In its monthly oil market report, the agency said the above factors seem to delay further an elusive turnaround in global economic, and in turn oil demand,