John Sharma

John Sharma


“John has a first class Honours in Economics from Melbourne University and is a CFA Charterholder. ”

John Sharma is the Sovereign Risk Economist for the National Australia Bank, and is also entrusted with the coverage of India. John has been in the NAB Economics team since August 1999, and in the Sovereign Risk role since March 2013.

Prior to joining the Sovereign Risk area, John was in the Industry Economics team (with responsibilities for Property, Construction, Hospitality and Transport), followed by a role as the domestic Macro Economist, with responsibility for macroeconomic analysis and forecasting of the Australian Economy as well as in preparing the NAB Monthly, Quarterly and SME Business Surveys.

John has a first class Honours in Economics from Melbourne University and is a CFA Charterholder.


The RBI held the benchmark Repo rate at 6% at its February meeting. This decision was in line with expectations.

The Indian economy accelerated in the September quarter, recording a 6.3% yoy expansion.

The Indian economy has slowed considerably since the first half of 2016.

Another concern for the RBI has been the jump in core inflation (inflation excluding food and fuel).

The Indian economy decelerated in the June quarter, growing by 5.7% yoy, the lowest since March 2014.

Indian economic growth decelerated in the March 2017 quarter, with real GDP expanding by 6.1% in yoy terms.

No FTA yet, but deepening trade prospects.

Prime Minister Turnbull visits India after important economic reforms.

The RBI, somewhat surprisingly, maintained the policy repo rate at 6.25%. Uncertainty about the effects of demonetisation and sticky core inflation were factors.

The RBI cut the policy rate by 25bp to 6.25% at the October meeting.

The RBI held the policy (Repo) rate at 6.5%, as expected. NAB Economics is forecasting a 25bp cut in rates to 6.25% in the December quarter, on expectation of softer food prices.

The April 5th Monetary policy meeting was a landmark in terms of the policy measures announced. The 25bp cut in the policy rate was accompanied by a raft of measures to boost liquidity and ensure more effective monetary transmission by banks.

India’s economy accelerated in the September quarter 2015, with Real GDP growing by 7.4% yoy, up from 7% in the June quarter. NAB Economics is forecasting a 7.5% expansion in 2015, followed by 7.6% in 2016.

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