Sunder’s List: Laying an Onion

Roundup: S&P -0.01%, Dow +0.10%, Nasdaq +0.06%, Gold $1234.60, London -0.08%, Germany -0.12%, France -0.23%. At pixel: Nikkei -0.54%, Hang Seng -0.49%

Farm-gate onion prices fell below Rs 10 per kg on Sunday. Price controls end up screwing the very people it tries to protect. (ET, Price Controls: 5 spectacular failures)

India has successfully exported its CAD to neighboring countries. Pakistan, Bangladesh, Myanmar, Nepal and Sri Lanka have alerted India that gold imported through them could be finding its way into the country through porous borders. All these countries, which have lower customs duties than the 10% imposed by India, have seen a surge in gold imports, which in turn has put pressure on their current account deficits. (ET, #gold) [stockquote]GOLDBEES[/stockquote]

Will the RBI adopt an inflation target? Will price stability becomes the RBI’s primary mandate? Major changes are afoot. (FT)

Indian banks are in a mess. Now is the time to enact far-reaching reforms. (LiveMint) [stockquote]BANKBEES[/stockquote] [stockquote]PSUBNKBEES[/stockquote]

All eyes will be on the U.S. central bank’s policy decision at 2 p.m. (19:00 GMT) on Wednesday (Dec-18). It is Bernanke’s last press conference as Fed chairman and he is expected to stress that interest rates will remain low for a long while irrespective of when QE is shelved. About half of the 60 economists polled by Reuters last week expected the Fed to wait until March before it trims the asset purchases. (Yahoo)

Good luck!

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