Economic Weekly Wrap
15 Dec 2025 - 19 Dec 2025
-
15 December 2025
Global markets continued to assess the impact of easier liquidity conditions supported by the recent rate cut by Fed. Among other macro releases, has been UK’s monthly GDP data, which contracted by -0.1% in 3-months to Oct’25 compared to growth of 0.1% in the 3-months to Sep’25, led by slowdown in services sector. This becomes crucial reading ahead of BoE’s rate decision where money market is largely pricing in a 25bps rate cut before ending the CY25 cycle. Germany’s CPI came in at 2.3% in Nov’25, almost at the same level seen in Oct’25. In China, retail sales, industrial production and investment in fixed assets all pointed to some degree of softening, as all numbers missed estimates. Thus, calling for further policy support. On domestic front, headline CPI bottomed out but the weakness of core inflation remains
Except US and UK, stocks elsewhere ended in green. In the US, AI concerns weighed on investor sentiments, leading to losses in tech stocks. Stocks in Asia ended higher buoyed by Fed rate cut bets. Hang Seng and Nikkei rose by 1.7% and 1.4% respectively. In India, Sensex rose by 0.5% led by gains in metal and real estate stocks. It is trading lower today, in line with other Asian stocks.
Table 1 – Stock markets
11-12-2025 12-12-2025 Change, % Dow Jones 48,704 48,458 (0.5) S & P 500 6,901 6,827 (1.1) FTSE 9,703 9,649 (0.6) Nikkei 50,149 50,837 1.4 Hang Seng 25,531 25,977 1.7 Shanghai Comp 3,873 3,889 0.4 Sensex 84,818 85,268 0.5 Nifty 25,899 26,047 0.6 Source: Bloomberg, Bank of Baroda Research
Global currencies traded in thin ranges. DXY strengthened marginally as investors assess Fed rate path. GBP declined by 0.1% after a dismal GDP report. INR depreciated to a record low amid weak sentiments. It is trading further weaker today, while other Asian currencies are trading mixed.
Table 2 – Currencies
11-12-2025 12-12-2025 Change, % EUR/USD (1 EUR / USD) 1.1738 1.1740 0 GBP/USD (1 GBP / USD) 1.3388 1.3371 (0.1) USD/JPY (JPY / 1 USD) 155.59 155.81 (0.1) USD/INR (INR / 1 USD) 90.37 90.42 (0.1) USD/CNY (CNY / 1 USD) 7.0571 7.0550 0 DXY Index 98.35 98.40 0.1 Source: Bloomberg, Bank of Baroda Research
The impact of Fed rate cut dissipated across 10Y yields of major AEs and EMs. For UK and UK, it rose by 3bps each albeit for the latter building expectations of rate cut. Japan’s 10Y yield inched up by 2bps monitoring the spread with US. India’s 10Y yield inched up a tad. It is trading at the same level today.
Table 3 – Bond 10Y Yield
11-12-2025 12-12-2025 Change, bps US 4.16 4.18 3 UK 4.48 4.52 3 Germany 2.84 2.86 1 Japan 1.93 1.95 2 China 1.82 1.84 2 India 6.58 6.59 1 Source: Bloomberg, Bank of Baroda Research
Table 4 – Short Term Rates
11-12-2025 12-12-2025 Change, bps Tbill-91 days 5.26 5.27 1 Tbill-182 days 5.47 5.41 (6) Tbill-364 days 5.49 5.45 (4) G-Sec 2Y 5.79 5.81 2 India OIS-2M 5.33 5.33 0 India OIS-9M 5.44 5.42 (2) SONIA int rate benchmark 3.97 3.97 0 US SOFR 3.93 3.90 (3) Source: Bloomberg, Bank of Baroda Research
Table 5 – Liquidity
11-12-2025 12-12-2025 Change (Rs tn) Net Liquidity (-deficit/+surplus) 1.8 2.1 0.3 Source: RBI, Bank of Baroda Research
Table 6 – Capital market flows
10-12-2025 11-12-2025 change (US$ mn/Rs cr) FII (US$ mn) (195.2) (346.2) (151.0) Debt 33.2 (141.3) (174.5) Equity (228.4) (204.9) 23.5 Mutual funds (Rs cr) 1,184.5 3,217.0 2,032.5 Debt (3,496.8) (246.9) 3,249.9 Equity 4,681.3 3,463.9 (1,217.4) Source: Bloomberg, Bank of Baroda Research| Note: Mutual Fund data as of 10 Dec and 11 Dec 2025
Oil prices declined further on fears of oversupply.
Table 7 – Commodities
11-12-2025 12-12-2025 Change, % Brent crude (US$/bbl) 61.3 61.1 (0.3) Gold (US$/ Troy Ounce) 4,280.2 4,299.6 0.5 Copper (US$/ MT) 11,896.8 11,535.7 (3.0) Zinc (US$/MT) 3,376.3 3,215.6 (4.8) Aluminium (US$/MT) 2,900.0 2,868.5 (1.1) Source: Bloomberg, Bank of Baroda Research
-
16 December 2025
Global markets remained cautious ahead of key macro releases in the US. The payroll numbers and headline unemployment rate is expected to put more light on future trajectory of Fed policy rate. Separately, most of the Fed officials gave conflicting signals. Fed Governor Stephen Miran spoke of the current stance being unnecessarily restrictive. On the other hand, New York Fed President said that the current policy is well positioned. This week, all eyes will also be on the BoJ and BoE policy. Among major data releases of the day, has been UK’s house price which fell at the same pace as seen in Dec’25. Japan’s PMI data showed some softening of services activity and manufacturing index remained below the 50-mark. On domestic front, weakness in INR remained at the centre point.
Except FTSE, other global indices declined. Investors remained cautious ahead of US data releases and central bank meetings this week. Stocks in Asia declined tracking weak macro data from China. Nikkei and Hang Seng both fell by 1.3% each. In India, Sensex dropped by 0.1% led by losses in auto stocks. It is trading further lower today, in line with other Asian stocks.
Table 1 – Stock markets
12-12-2025 15-12-2025 Change, % Dow Jones 48,458 48,417 (0.1) S & P 500 6,827 6,817 (0.2) FTSE 9,649 9,751 1.1 Nikkei 50,837 50,168 (1.3) Hang Seng 25,977 25,629 (1.3) Shanghai Comp 3,889 3,868 (0.6) Sensex 85,268 85,213 (0.1) Nifty 26,047 26,027 (0.1) Source: Bloomberg, Bank of Baroda Research
Except INR, other global currencies closed broadly higher against the dollar. DXY was weaker ahead of the release of key macro data. Investors also awaited monetary policy decisions of ECB, BoE and BoJ. INR depreciated to a historic low as uncertainty persists over US trade deal. It is trading further weaker today, in line with other Asian currencies.
Table 2 – Currencies
12-12-2025 15-12-2025 Change, % EUR/USD (1 EUR / USD) 1.1740 1.1753 0.1 GBP/USD (1 GBP / USD) 1.3371 1.3376 0 USD/JPY (JPY / 1 USD) 155.81 155.23 0.4 USD/INR (INR / 1 USD) 90.42 90.73 (0.3) USD/CNY (CNY / 1 USD) 7.0550 7.0480 0.1 DXY Index 98.40 98.31 (0.1) Source: Bloomberg, Bank of Baroda Research
10Y yield in US and UK softened. For UK, the pricing in of 25bps rate cut by BoE have started taking shape. The stable CPI print in Germany kept its 10Y yield capped. For Japan, all eyes are on BoJ policy. Thus, its 10Y yield inched up a tad. For India, it closed stable and is trading at the same level today.
Table 3 – Bond 10Y Yield
12-12-2025 15-12-2025 Change, bps US 4.18 4.17 (1) UK 4.52 4.50 (2) Germany 2.86 2.85 0 Japan 1.95 1.96 1 China 1.84 1.86 1 India 6.59 6.59 0 Source: Bloomberg, Bank of Baroda Research
Table 4 – Short Term Rates
12-12-2025 15-12-2025 Change, bps Tbill-91 days 5.27 5.27 0 Tbill-182 days 5.43 5.46 3 Tbill-364 days 5.48 5.48 0 G-Sec 2Y 5.81 5.79 (1) India OIS-2M 5.34 5.34 0 India OIS-9M 5.42 5.41 (1) SONIA int rate benchmark 3.98 3.97 0 US SOFR 3.66 3.67 1 Source: Bloomberg, Bank of Baroda Research
Table 5 – Liquidity
12-12-2025 15-12-2025 Change (Rs tn) Net Liquidity (-deficit/+surplus) 2.1 1.2 (0.9) Source: RBI, Bank of Baroda Research
Table 6 – Capital market flows
11-12-2025 12-12-2025 change (US$ mn/Rs cr) FII (US$ mn) (346.2) 40.9 387.1 Debt (141.3) 26.0 167.3 Equity (204.9) 14.9 219.8 Mutual funds (Rs cr) 1,184.5 3,217.0 2,032.5 Debt (3,496.8) (246.9) 3,249.9 Equity 4,681.3 3,463.9 (1,217.4) Source: Bloomberg, Bank of Baroda Research| Note: Mutual Fund data as of 11 Dec and 12 Dec 2025
Oil prices declined as weak data from China led to demand concerns.
Table 7 – Commodities
12-12-2025 15-12-2025 Change, % Brent crude (US$/bbl) 61.1 60.6 (0.9) Gold (US$/ Troy Ounce) 4,299.6 4,305.0 0.1 Copper (US$/ MT) 11,535.7 11,651.1 1.0 Zinc (US$/MT) 3,215.6 3,061.9 (4.8) Aluminium (US$/MT) 2,868.5 2,866.0 (0.1) Source: RBI, Bank of Baroda Research
-
17 December 2025
Among major macro releases, has been US jobs data where nonfarm payroll rose by 64K in Nov’25 compared to decline of -105K seen in Oct’25. The private payrolls rose by 69K. The 3-month moving average of nonfarm payroll also edged up by 22K. However, average hourly earnings sequentially moderated by 0.1% in Nov’25. Thus, albeit some degree of softening, visible signs of recovery in labour market conditions cannot be ruled out. Hence, Fed is likely to be cautious in its future monetary policy decisions. Separately Fed officials continued to give divergent signals. Atlanta Fed President said that policy rate should focus on inflation while Chicago Fed President spoke of a more conducive environment for rate cut on the back of stabilised growth. On domestic front, INR breached the 91/$ mark reigniting concerns on external front.
Global stocks ended lower as investors’ monitored US jobs report. Impact of prolonged government shutdown is expected to have imparted a degree of uncertainty to the data. Markets also monitored flash PMIs of countries. Sensex dipped by 0.6%, tracking global cues. It is however trading higher today, while Asian stocks are trading mixed.
Table 1 – Stock markets
15-12-2025 16-12-2025 Change, % Dow Jones 48,417 48,114 (0.6) S & P 500 6,817 6,800 (0.2) FTSE 9,751 9,685 (0.7) Nikkei 50,168 49,383 (1.6) Hang Seng 25,629 25,235 (1.5) Shanghai Comp 3,868 3,825 (1.1) Sensex 85,213 84,680 (0.6) Nifty 26,027 25,860 (0.6) Source: Bloomberg, Bank of Baroda Research
Global currencies ended mixed. DXY dipped by 0.2% as US flash PMIs signalled a further worsening in economic activity in Dec’25. GBP rose by 0.4% as UK’s manufacturing PMI surged to a 15-month high. INR depreciated further and crossed the 91/$ mark. However, it is trading much stronger today, while other Asian currencies are trading mixed.
Table 2 – Currencies
15-12-2025 16-12-2025 Change, % EUR/USD (1 EUR / USD) 1.1753 1.1747 (0.1) GBP/USD (1 GBP / USD) 1.3376 1.3423 0.4 USD/JPY (JPY / 1 USD) 155.23 154.72 0.3 USD/INR (INR / 1 USD) 90.73 91.03 (0.3) USD/CNY (CNY / 1 USD) 7.0480 7.0426 0.1 DXY Index 98.31 98.15 (0.2) Source: Bloomberg, Bank of Baroda Research
10Y yield in US softened weighing comments of central bank officials and tracking jobs data. For UK, it rose by 2bps albeit a near 5-year high unemployment print. Elsewhere, 10Y yields traded in a narrow range. India’s 10Y yield softened by 2bps albeit 10-day VRR remaining undersubscribed. It is trading at 6.57% today.
Table 3 – Bond 10Y Yield
15-12-2025 16-12-2025 Change, bps US 4.17 4.15 (3) UK 4.50 4.52 2 Germany 2.85 2.85 (1) Japan 1.96 1.96 0 China 1.86 1.85 0 India 6.59 6.58 (2) Source: Bloomberg, Bank of Baroda Research
Table 4 – Short Term Rates
15-12-2025 16-12-2025 Change, bps Tbill-91 days 5.27 5.30 3 Tbill-182 days 5.46 5.45 (1) Tbill-364 days 5.48 5.49 1 G-Sec 2Y 5.79 5.81 1 India OIS-2M 5.34 5.34 0 India OIS-9M 5.41 5.42 1 SONIA int rate benchmark 3.97 3.97 0 US SOFR 3.67 3.75 8 Source: Bloomberg, Bank of Baroda Research
Table 5 – Liquidity
15-12-2025 16-12-2025 Change (Rs tn) Net Liquidity (-deficit/+surplus) 1.2 (0.6) (1.8) Source: RBI, Bank of Baroda Research
Table 6 – Capital market flows
12-12-2025 15-12-2025 change (US$ mn/Rs cr) FII (US$ mn) 40.9 (43.2) (84.1) Debt 26.0 (107.0) (133.0) Equity 14.9 63.8 48.9 Mutual funds (Rs cr) 3,814.7 (1,199.6) (5,014.3) Debt 1,700.9 (3,618.2) (5,319.1) Equity 2,113.8 2,418.6 304.8 Source: Bloomberg, Bank of Baroda Research| Note: Mutual Fund data as of 12 Dec and 15 Dec 2025
Oil prices fell to a ~5year low amidst hopes of Russia-Ukraine peace deal.
Table 7 – Commodities
15-12-2025 16-12-2025 Change, % Brent crude (US$/bbl) 60.6 58.9 (2.7) Gold (US$/ Troy Ounce) 4,305.0 4,302.3 (0.1) Copper (US$/ MT) 11,651.1 11,582.5 (0.6) Zinc (US$/MT) 3,061.9 3,025.0 (1.2) Aluminium (US$/MT) 2,866.0 2,876.5 0.4 Source: Bloomberg, Bank of Baroda Research
-
18 December 2025
Equity markets in the US continued to be impacted by sell off in technology stocks over valuation concerns of AI companies. DXY got breather following some momentum in US jobs report. Among other asset classes, both oil and gold firmed up. For oil, tensions surrounding US and Venezuela impacted prices. For gold, the safe-haven rally continued. Among major macro releases, has been UK’s inflation data where both CPI and core CPI softened. This further solidifies the narrative of rate cut by BoE in the upcoming policy. Traders will closely assess rate decision of ECB and central bank of Sweden, where status quo in rates is expected. For BoJ market is largely pricing in a rate hike and will monitor the spread with the US. On domestic front, INR got support from likely intervention by RBI.
Except India and US, stocks elsewhere ended in green. Concerns over AI spending led to a sharp sell-off in tech stocks in the US. FTSE rose amidst increased hopes of a rate cut. In India, Sensex declined marginally, led by losses in capital goods and real estate stocks. It is trading further weaker today, in line with other Asian stocks.
Table 1 – Stock markets
16-12-2025 17-12-2025 Change, % Dow Jones 48,114 47,886 (0.5) S & P 500 6,800 6,721 (1.2) FTSE 9,685 9,774 0.9 Nikkei 49,383 49,512 0.3 Hang Seng 25,235 25,469 0.9 Shanghai Comp 3,825 3,870 1.2 Sensex 84,680 84,560 (0.1) Nifty 25,860 25,819 (0.2) Source: Bloomberg, Bank of Baroda Research
Barring INR, other global currencies ended broadly weaker. DXY rose by 0.2% tracking higher US yields. GBP declined the most as the BoE is widely expected to deliver a rate cut today. EUR also dipped tracking a fall in Germany’s Ifo business climate index. INR appreciated sharply due to possible RBI intervention. However, it is trading weaker today, in line with its Asian peers.
Table 2 – Currencies
16-12-2025 17-12-2025 Change, % EUR/USD (1 EUR / USD) 1.1747 1.1741 (0.1) GBP/USD (1 GBP / USD) 1.3423 1.3376 (0.4) USD/JPY (JPY / 1 USD) 154.72 155.69 (0.6) USD/INR (INR / 1 USD) 91.03 90.38 0.7 USD/CNY (CNY / 1 USD) 7.0426 7.0440 0 DXY Index 98.15 98.37 0.2 Source: Bloomberg, Bank of Baroda Research
US 10Y yield inched up a tad tracking comments of Fed Governor Waller over cautious approach tracking gap in policy rate from neutral rate. UK’s 10Y yield softened considerably as rate cut by BoE is widely priced in by traders. For Germany, albeit a downbeat Ifo data, its 10Y yield inched up. India’s 10Y yield rose by 2bps as system liquidity is running in deficit. It is trading at 6.61% today.
Table 3 – Bond 10Y Yield
16-12-2025 17-12-2025 Change, bps US 4.15 4.15 1 UK 4.52 4.48 (4) Germany 2.85 2.86 2 Japan 1.96 1.98 2 China 1.85 1.84 (2) India 6.58 6.60 2 Source: Bloomberg, Bank of Baroda Research
Table 4 – Short Term Rates
16-12-2025 17-12-2025 Change, bps Tbill-91 days 5.30 5.27 (3) Tbill-182 days 5.45 5.49 4 Tbill-364 days 5.49 5.49 0 G-Sec 2Y 5.81 5.81 1 India OIS-2M 5.34 5.36 2 India OIS-9M 5.42 5.44 2 SONIA int rate benchmark 3.97 3.97 0 US SOFR 3.75 3.69 (6) Source: Bloomberg, Bank of Baroda Research
Table 5 – Liquidity
16-12-2025 17-12-2025 Change (Rs tn) Net Liquidity (-deficit/+surplus) (0.6) (0.6) 0 Source: RBI, Bank of Baroda Research
Table 6 – Capital market flows
15-12-2025 16-12-2025 change (US$ mn/Rs cr) FII (US$ mn) (43.2) (104.5) (61.3) Debt (107.0) 52.0 159.1 Equity 63.8 (156.6) (220.4) Mutual funds (Rs cr) (1,199.6) (7,980.6) (6,781.1) Debt (3,618.2) (8,203.7) (4,585.5) Equity 2,418.6 223.1 (2,195.6) Source: Bloomberg, Bank of Baroda Research| Note: Mutual Fund data as of 15 Dec and 16 Dec 2025
Oil prices rose on reports of fresh US sanctions on Russia’s energy sector.
Table 7 – Commodities
16-12-2025 17-12-2025 Change, % Brent crude (US$/bbl) 58.9 59.7 1.3 Gold (US$/ Troy Ounce) 4,302.3 4,338.3 0.8 Copper (US$/ MT) 11,582.5 11,727.2 1.2 Zinc (US$/MT) 3,025.0 3,051.9 0.9 Aluminium (US$/MT) 2,876.5 2,905.5 1.0 Source: Bloomberg, Bank of Baroda Research
-
19 December 2025
Global markets monitored major central bank policy decisions. BoE had cut policy rate by 25bps, and bank rate is at its 3-year low of 3.75%. However, BoE Governor, clearly signalled that there remains less scope of future easing. ECB maintained status quo amidst buoyant growth outlook and inflation aligning to the 2% target. The future policy outlook seems to be hawkish. BoJ raised policy rate by 25bps to 0.75%, its first hike since Jan’25 with policy rate at its highest since CY95. The decision comes in the wake of CPI hovering at or above the targeted 2% level for 44-months in a row. Amongst major macro releases, both CPI and core CPI in the US softened to 2.7% and 2.6%, respectively, on YoY basis. Initial jobless claims moderated to 224K for the week ending 13 Dec. On domestic front, India and Oman signed trade pact to expand trade and investment, a welcoming move towards diversification.
US stocks received support from a moderation in CPI. Elsewhere, investors monitored policy decisions and commentaries from BoE and ECB. Sensex declined further, as power and oil and gas receded. It is trading further weaker today, while other Asian stocks are trading mostly higher.
Table 1 – Stock markets
17-12-2025 18-12-2025 Change, % Dow Jones 47,886 47,952 0.1 S & P 500 6,721 6,775 0.8 FTSE 9,774 9,838 0.6 Nikkei 49,512 49,002 (1.0) Hang Seng 25,469 25,498 0.1 Shanghai Comp 3,870 3,876 0.2 Sensex 84,560 84,482 (0.1) Nifty 25,819 25,816 0 Source: Bloomberg, Bank of Baroda Research
Except EUR, other global currencies ended higher. DXY rose by 0.1% tracking CPI data. EUR depreciated as ECB likely closed the door for more rate cuts. GBP was broadly flat after BoE cut rates by a narrow vote. INR appreciated by 0.1%. It is trading stronger at below the 90/$ mark today. Asian currencies are trading mixed.
Table 2 – Currencies
17-12-2025 18-12-2025 Change, % EUR/USD (1 EUR / USD) 1.1741 1.1722 (0.2) GBP/USD (1 GBP / USD) 1.3376 1.3381 0 USD/JPY (JPY / 1 USD) 155.69 155.55 0.1 USD/INR (INR / 1 USD) 90.38 90.25 0.1 USD/CNY (CNY / 1 USD) 7.0440 7.0413 0 DXY Index 98.37 98.43 0.1 Source: Bloomberg, Bank of Baroda Research
US 10Y yield softened by 3bps tracking moderation in CPI data. Elsewhere 10Y yields traded thinly monitoring policy decisions of major central banks. Japan’s 10Y yield is trading at its highest since CY06 at 2%, post BoJ rate decision. India’s 10Y yield fell by 3bps tracking auction results of Rs 500bn OMO purchase by RBI. It is trading at 6.58% today.
Table 3 – Bond 10Y Yield
17-12-2025 18-12-2025 Change, bps US 4.15 4.12 (3) UK 4.48 4.48 1 Germany 2.86 2.85 (1) Japan 1.98 1.97 0 China 1.84 1.84 0 India 6.60 6.57 (3) Source: Bloomberg, Bank of Baroda Research
Table 4 – Short Term Rates
17-12-2025 18-12-2025 Change, bps Tbill-91 days 5.27 5.25 (2) Tbill-182 days 5.49 5.49 0 Tbill-364 days 5.49 5.50 1 G-Sec 2Y 5.81 5.81 (0) India OIS-2M 5.36 5.35 (1) India OIS-9M 5.44 5.43 (1) SONIA int rate benchmark 3.97 3.97 0 US SOFR 3.69 3.69 0 Source: Bloomberg, Bank of Baroda Research
Table 5 – Liquidity
17-12-2025 18-12-2025 Change (Rs tn) Net Liquidity (-deficit/+surplus) (0.6) (0.3) 0.3 Source: RBI, Bank of Baroda Research
Table 6 – Capital market flows
16-12-2025 17-12-2025 change (US$ mn/Rs cr) FII (US$ mn) (104.5) 101.5 206.1 Debt 52.0 (82.0) (134.1) Equity (156.6) 183.6 340.1 Mutual funds (Rs cr) (7,980.6) (129.3) 7,851.4 Debt (8,203.7) 433.7 8,637.4 Equity 223.1 (563.0) (786.0) Source: Bloomberg, Bank of Baroda Research| Note: Mutual Fund data as of 16 Dec and 17 Dec 2025
Oil prices rose as US President announced sanctions on Venezuela.
Table 7 – Commodities
17-12-2025 18-12-2025 Change, % Brent crude (US$/bbl) 59.7 59.8 0.2 Gold (US$/ Troy Ounce) 4,338.3 4,332.6 (0.1) Copper (US$/ MT) 11,727.2 11,764.1 0.3 Zinc (US$/MT) 3,051.9 3,036.7 (0.5) Aluminium (US$/MT) 2,905.5 2,916.0 0.4 Source: Bloomberg, Bank of Baroda Research
@2025 Bank of Baroda. All rights reserved
Important disclosures are provided at the end of this report.
Disclaimer
The views expressed in this research note are personal views of the author(s) and do not necessarily reflect the views of Bank of Baroda. Nothing contained in this publication shall constitute or be deemed to constitute an offer to sell/ purchase or as an invitation or solicitation to do so for any securities of any entity. Bank of Baroda and/ or its Affiliates and its subsidiaries make no representation as to the accuracy; completeness or reliability of any information contained herein or otherwise provided and hereby disclaim any liability with regard to the same. Bank of Baroda Group or its officers, employees, personnel, directors may be associated in a commercial or personal capacity or may have a commercial interest including as proprietary traders in or with the securities and/ or companies or issues or matters as contained in this publication and such commercial capacity or interest whether or not differing with or conflicting with this publication, shall not make or render Bank of Baroda Group liable in any manner whatsoever & Bank of Baroda Group or any of its officers, employees, personnel, directors shall not be liable for any loss, damage, liability whatsoever for any direct or indirect loss arising from the use or access of any information that may be displayed in this publication from time to time
Connect with Us
For further details about this publication, please contact:
Economics Research Department
Bank of Baroda
+91 22 6698 5794
chief.economist@bankofbaroda.bank.in
Popular Articles
Tag Clouds
Related Articles
-
Disclaimer
The contents of this article/infographic/picture/video are meant solely for information purposes and do not necessarily reflect the views of Bank of Baroda. The contents are generic in nature and for informational purposes only. It is not a substitute for specific advice in your own circumstances. Bank of Baroda and/ or its Affiliates and its subsidiaries make no representation as to the accuracy; completeness or reliability of any information contained herein or otherwise provided and hereby disclaim any liability with regard to the same. The information is subject to updation, completion, revision, verification and amendment and the same may change materially. The information is not intended for distribution or use by any person in any jurisdiction where such distribution or use would be contrary to law or regulation or would subject Bank of Baroda or its affiliates to any licensing or registration requirements. Bank of Baroda shall not be responsible for any direct/indirect loss or liability incurred by the reader for taking any financial decisions based on the contents and information mentioned. Please consult your financial advisor before making any financial decision.
