Latest news with #Malhotra
Vancouver Sun
2 hours ago
- Sport
- Vancouver Sun
Abbotsford Canucks can claim Calder Cup Saturday, and that would sell hope to fans
The Abbotsford Canucks are one win away from a Calder Cup championship, and they are saying all the right things about that. 'The message never changes us for us. Whether we win or lose, it's about the next game and that's where our focus is going to lie — bringing our best effort to the next game,' Abbotsford coach Manny Malhotra told the media after a 3-2 win over the Charlotte Checkers Thursday at the Abbotsford Centre gave them a 3-1 lead in the best-of-seven AHL championship series. Abbotsford can now claim the league title with a victory in Game 5 on Saturday (6 p.m.) on home ice. Start your day with a roundup of B.C.-focused news and opinion. By signing up you consent to receive the above newsletter from Postmedia Network Inc. A welcome email is on its way. If you don't see it, please check your junk folder. The next issue of Sunrise will soon be in your inbox. Please try again Interested in more newsletters? Browse here. Considering how messy the Vancouver Canucks ' season was, their farm team winning a championship would help sell hope for the future to the fan base. A Vancouver affiliate has never captured the AHL title. The 2015 Utica Comets, led by coach Travis Green, got to the league championship series but lost. They had gotten to the second round twice in their previous seasons in Abbotsford. Fans at the Abbotsford Centre on Thursday night began chanting 'We want the Cup,' in the third period. Ticketmaster is listing the Saturday's game as a sell-out. There were standing room tickets available as of Friday morning , but they had been purchased by the afternoon. There are also tickets available at resale sites like StubHub. The games are web streamed on FloHockey but there's a subscription fee . Malhotra has talked up the atmosphere at the Abbotsford Centre throughout these playoffs and Thursday's crowd was announced at 7,181, which is a record for the franchise's four years there. Their announced attendance average for the regular season was 4,152. Charlotte (44-22-3-3) finished fourth in the league overall during the regular season, two points ahead of fifth-place Abbotsford (44-24-2-2). That gives the Checkers home ice advantage in this series, and means that if they can win Saturday then proceedings shift back to Charlotte, N.C., with a Game 6 set for Monday and a Game 7, if needed, slated for Wednesday. 'From Day One of the season, we continuously talked about wanting to take advantage of playing on home ice,' Malhotra told reporters Thursday. 'We wanted to make the most of the three games that we're going to have here (in this series). 'And, most importantly, it's so much fun for the guys to play in front of this crowd. The building was electric again and they definitely feed off that. It's very special for our guys to play in front of our fans and we get a big boost out of it.' The Abbotsford players echoed Malhotra's thoughts about staying on task. These Canucks have received a stellar effort in the playoffs from goaltender Artūrs Šilovs, but their success can be also attributed to the fact they get contributions up and down the line-up. They play well as a group. Malhotra deserves credit for creating that. You'd have to think he is landing on more and more radars for an NHL head coaching job somewhere down the line as this playoff run continues. Vancouver president Jim Rutherford listed him as a candidate to run the bench with the big team next season when Rick Tocchet left, but the post went instead to Tocchet assistant Adam Foote. 'Enjoy this tonight but tomorrow's a new day,' Abbotsford centre Chase Wouter, who's the team captain, said Thursday of the team's mindset. 'We've got to flip the page. They're a really good team over there and it's going to be a tall task for that next game. There's still a lot of work left to do.' Winger Arshdeep Bains added: 'I think we do a good job of just taking it one day at a time.' Jonathan Lekkerimäki scored twice for Abbotsford on Thursday. He is the top prospect in the Vancouver system, a 2022 first-round (No. 15 overall) selection. He had struggled in these playoffs with his all-around play, and he had been a healthy scratch for five games before being reinserted in the Abbotsford line-up for Game 4. 'To me, that sums up Lekky,' Malhotra said of the two goals. 'The kid has ice in his veins. He doesn't shy away from these big moments. He had two quality looks, and he made them count.' As for how Lekkerimäki handled being a healthy scratch, Malhotra said, 'I think the biggest part is just communication. It's giving reasons, giving understanding as to why there's in and out to the lineup. He's done an incredible job of adapting in these situations.' The Checkers are the Florida Panthers' farm team. The Panthers are trying to become the first organization to win the Stanley Cup and Calder Cup in the same year since the 1995 New Jersey Devils and Albany River Rats. sewen@
New Indian Express
8 hours ago
- Business
- New Indian Express
Falling inflation, uneven growth led to RBI front-loading rate cut, show Monetary Policy Committee minutes
MUMBAI: The unconventional 50 bps repo rate cut, taking the key rate to a low of 5.5%, along with a 100 bps reduction in the cash reserve ratio in a staggered manner announced on June 6 are part of the central bank's efforts to prop up growth, which has lost some of its momentum due to the ongoing trade war concerns. The cut was also enabled by the six-member Monetary Policy Committee's unanimous benign outlook on inflation, given the falling food prices and the forecast for a normal monsoon season, show the minutes of the June 4-6 meeting of the panel, released by the RBI on Friday. In a surprise move, the MPC slashed the key repo by 50 bps—the only time it had done such a move in recent years was the 75 bps reduction in May 2020 in the middle of the pandemic—and also slashed the CRR to 3%. The package is aimed at offering stability in volatile global conditions and aid the country's growth momentum in the near term. The MPC also changed the stance to neutral from accommodative, which was announced in the April policy. The jumbo rate cut came after two successive rate cuts of 25 bps each in February and April. 'This package of measures will provide some certainty in the times of uncertainty and is expected to support growth,' said governor Sanjay Malhotra, according to the MPC minutes. Since the past three reviews, the rates are down a full 100 bps. Inflation has cooled faster than expected, with the April consumer price index print falling to a near six-year low of 3.2%, giving the central bank space to act. That the May CPI print has fallen to a 76-month low of 2.82% is another reason for cheering the RBI forecast. While headline inflation is expected to undershoot the RBI's 4% target and average 3.7% in FY26—down from 4% earlier, growth remains below the aspirational levels—a reason why the MPC has not changed its GDP forecast for the year. 'While growth remains steady, it is lower than our aspirations,' Malhotra said. GDP grew 6.5% in FY25, with a strong 7.4% showing in the March quarter. 'Since the April policy, the incoming data point to more than anticipated softening of inflation. The Reserve Bank's anti-inflationary policy stance in the last two years, supply side measures by the government and a good agricultural season seem to have helped gain control over inflation. This has given flexibility and opportunity for monetary policy to support growth,' the member from the RBI side Rajiv Ranjan said. The youngest deputy governor Poonam Gupta, who is also in charge of the monetary policy department, not only backed a rate cut but batted for front loading it, saying, 'There is also merit in front-loading these cuts, as given the positive data prints, the issue arises of how much support can be provided, and at what pace.'
Time of India
9 hours ago
- Business
- Time of India
RBI policy minutes: Governor backed neutral stance to 'cut, pause or hike rates'; Five of six MPC members supported 'front-loaded' easing
RBI Governor Sanjay Malhotra said a front-loaded interest rate cut would offer clarity and confidence to economic agents and support growth as the global environment remains volatile, according to minutes of the June monetary policy meeting released on Friday. The Monetary Policy Committee (MPC), headed by Malhotra, cut the repo rate by 50 basis points on June 6, marking the second such move in a row and bringing the cumulative reduction to 100 bps. The panel also shifted its stance from 'accommodative' to 'neutral' and announced liquidity measures to reinforce the easing. While five of the six members voted in favour of a 50 bps cut, external member Saugata Bhattacharya opted for a more cautious 25 bps reduction, citing prevailing global uncertainties. Citing inflation easing from 6.2% in October 2024 to 3.2% in April 2025, and projected to average 3.7% this year, Malhotra said: 'It is expected that the front-loaded rate action, along with certainty on the liquidity front, would send a clear signal to the economic agents, thereby supporting consumption and investment through lower cost of borrowing.' He added that a neutral stance offers flexibility to cut, pause or hike depending on incoming data and global conditions: 'This package of measures will provide some certainty in times of uncertainty and is expected to support growth.' Deputy Governor Poonam Gupta also backed a 50 bps cut, arguing that it would help signal policy certainty and accelerate transmission. Executive Director Rajiv Ranjan agreed, saying the move was appropriate to address growth, inflation and transmission concerns. However, he cautioned that: 'A 50 bps cut with an accommodative stance could mislead financial markets about the scale and scope of further monetary easing. ' External member Ram Singh called for caution, citing uncertain global growth and inflation trends: 'A staggered rate cut can further delay the materialisation of demand and investment decisions.' Bhattacharya, the lone dissenter on the size of the cut, said: 'Recognising the prevailing uncertainties, a measured and cautious progress in policy easing is more appropriate at this time.' Another external member Nagesh Kumar highlighted weak transmission and slow credit growth, especially in public sector banks, noting: 'A double dose of a rate cut is likely to bring down lending rates significantly, helping to spur investment and consumption of durable goods.' The next meeting of the MPC is scheduled for August. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Time of India
11 hours ago
- Business
- Time of India
RBI Governor pushes for growth-backed policies as global uncertainty clouds India's investment outlook: MPC minutes
RBI Governor Sanjay Malhotra cautioned that rising global uncertainty could postpone business investment decisions. He noted that post-COVID recovery has been driven by public investments, with private sector investment remaining weak despite favorable conditions. Malhotra emphasized the necessity of implementing policies that actively support economic growth in the face of these challenges. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Growth and inflation outlook Tired of too many ads? Remove Ads Rising global uncertainty may cause businesses to delay investment decisions, Reserve Bank of India Governor Sanjay Malhotra said, stressing the need for policies that support economic growth , in his statement, released on Friday, as a part of the minutes of the Monetary Policy Committee (MPC) meeting.'On the investment front, the post-Covid recovery so far has been largely led by public investments, while private sector investments have been weak despite high capacity utilisation and improved corporate balance sheets. Moreover, heightened global uncertainties may put on hold investment decisions by businesses, underscoring the need for growth supportive policies,' Malhotra its June meeting, the MPC decided to cut the benchmark repo rate by 50 basis points to 5.5%. The committee expects that this dual-rate cut will significantly reduce lending rates, thereby, encouraging both investment and consumption, particularly in durable the decision, Malhotra said, 'It is expected that the front-loaded rate action along with certainty on the liquidity front would send a clear signal to the economic agents, thereby supporting consumption and investment through lower cost of borrowing.'The RBI had earlier indicated that investment activity is likely to improve, supported by higher capacity utilisation, better corporate balance sheets across both financial and non-financial sectors, and continued capital expenditure by the the overall investment landscape remains uneven. 'Domestically, the recovery of economic growth to 7.4% in Q4:2025 from 6.4% in Q3:2025 was a pleasant surprise. It helped to close the year 2024-25 with 6.5% growth overall. However, the recovery has not been broad-based. It was supported by the rural consumption and government capex. Private investment, especially in manufacturing, and urban consumption, have continued to remain subdued,' said MPC member Nagesh Kumar in his added, 'It is not clear that the growth momentum will continue in the Q1 of the current year, given the fact that consumption and investment growth is moderating. The survey of corporate performance shows that companies are deleveraging their balance sheets with rising profits. Despite the capacity utilisation crossing beyond 75%, the investment intentions in manufacturing have moderated in 2025-26. The difficult external environment is likely to further complicate the economic growth outlook for 2025-26, especially for the manufacturing sector outlook, with implications for job creation. It calls for supporting growth through both fiscal and monetary policy.'Despite the concerns around external volatility, the RBI's rate-setting panel in its June MPC meeting retained its GDP growth forecast for FY26 at 6.5%, with quarterly estimates holding economy grew at 7.4% in the March quarter, marking the fastest pace in the past four quarters. However, the full-year FY25 growth settled at 6.5%, slightly below the average of recent years. Governor Malhotra had acknowledged persistent external challenges such as geopolitical conflicts and changing trade policies, but remained confident in the domestic economic momentum, supported by a strong monsoon forecast and continued strength in the services central bank maintained its quarterly growth projections for FY26 at 6.5% in Q1, 6.7% in Q2, 6.6% in Q3, and 6.3% in Q4. 'Services sector is expected to maintain its momentum. However, spillovers emanating from protracted geopolitical tensions, and global trade and weather-related uncertainties pose downside risks to growth,' the MPC had added that the Indian economy is progressing well and largely in line with expectations, despite the headwinds from the global the inflation front, the RBI had revised its forecast downward for FY26 to 3.7%, from the earlier projection of 4% made in April. The downward revision came amid a sustained drop in price had highlighted that headline inflation fell to a nearly six-year low in April, driven by easing food prices and deflation in fuel. Core inflation remained stable despite global commodity market RBI's latest quarter-wise inflation projections were 2.9% for Q1, 3.4% in Q2, 3.5% in Q3, and 4.4% in Q4. The central bank had stated that risks to the inflation outlook were 'evenly balanced.'With inflation easing and the economy showing selective strength, the RBI and the MPC have chosen to support momentum while remaining cautious of evolving global dynamics.
Economic Times
11 hours ago
- Business
- Economic Times
RBI Governor pushes for growth-backed policies as global uncertainty clouds India's investment outlook: MPC minutes
RBI Governor Sanjay Malhotra cautioned that rising global uncertainty could postpone business investment decisions. He noted that post-COVID recovery has been driven by public investments, with private sector investment remaining weak despite favorable conditions. Malhotra emphasized the necessity of implementing policies that actively support economic growth in the face of these challenges. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Growth and inflation outlook Tired of too many ads? Remove Ads Rising global uncertainty may cause businesses to delay investment decisions, Reserve Bank of India Governor Sanjay Malhotra said, stressing the need for policies that support economic growth , in his statement, released on Friday, as a part of the minutes of the Monetary Policy Committee (MPC) meeting.'On the investment front, the post-Covid recovery so far has been largely led by public investments, while private sector investments have been weak despite high capacity utilisation and improved corporate balance sheets. Moreover, heightened global uncertainties may put on hold investment decisions by businesses, underscoring the need for growth supportive policies,' Malhotra its June meeting, the MPC decided to cut the benchmark repo rate by 50 basis points to 5.5%. The committee expects that this dual-rate cut will significantly reduce lending rates, thereby, encouraging both investment and consumption, particularly in durable the decision, Malhotra said, 'It is expected that the front-loaded rate action along with certainty on the liquidity front would send a clear signal to the economic agents, thereby supporting consumption and investment through lower cost of borrowing.'The RBI had earlier indicated that investment activity is likely to improve, supported by higher capacity utilisation, better corporate balance sheets across both financial and non-financial sectors, and continued capital expenditure by the the overall investment landscape remains uneven. 'Domestically, the recovery of economic growth to 7.4% in Q4:2025 from 6.4% in Q3:2025 was a pleasant surprise. It helped to close the year 2024-25 with 6.5% growth overall. However, the recovery has not been broad-based. It was supported by the rural consumption and government capex. Private investment, especially in manufacturing, and urban consumption, have continued to remain subdued,' said MPC member Nagesh Kumar in his added, 'It is not clear that the growth momentum will continue in the Q1 of the current year, given the fact that consumption and investment growth is moderating. The survey of corporate performance shows that companies are deleveraging their balance sheets with rising profits. Despite the capacity utilisation crossing beyond 75%, the investment intentions in manufacturing have moderated in 2025-26. The difficult external environment is likely to further complicate the economic growth outlook for 2025-26, especially for the manufacturing sector outlook, with implications for job creation. It calls for supporting growth through both fiscal and monetary policy.'Despite the concerns around external volatility, the RBI's rate-setting panel in its June MPC meeting retained its GDP growth forecast for FY26 at 6.5%, with quarterly estimates holding economy grew at 7.4% in the March quarter, marking the fastest pace in the past four quarters. However, the full-year FY25 growth settled at 6.5%, slightly below the average of recent years. Governor Malhotra had acknowledged persistent external challenges such as geopolitical conflicts and changing trade policies, but remained confident in the domestic economic momentum, supported by a strong monsoon forecast and continued strength in the services central bank maintained its quarterly growth projections for FY26 at 6.5% in Q1, 6.7% in Q2, 6.6% in Q3, and 6.3% in Q4. 'Services sector is expected to maintain its momentum. However, spillovers emanating from protracted geopolitical tensions, and global trade and weather-related uncertainties pose downside risks to growth,' the MPC had added that the Indian economy is progressing well and largely in line with expectations, despite the headwinds from the global the inflation front, the RBI had revised its forecast downward for FY26 to 3.7%, from the earlier projection of 4% made in April. The downward revision came amid a sustained drop in price had highlighted that headline inflation fell to a nearly six-year low in April, driven by easing food prices and deflation in fuel. Core inflation remained stable despite global commodity market RBI's latest quarter-wise inflation projections were 2.9% for Q1, 3.4% in Q2, 3.5% in Q3, and 4.4% in Q4. The central bank had stated that risks to the inflation outlook were 'evenly balanced.'With inflation easing and the economy showing selective strength, the RBI and the MPC have chosen to support momentum while remaining cautious of evolving global dynamics.
