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India’s Central Bank Says ‘Boo.’ Carry Traders Faint
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Large-scale bond-buying and money-printing may result in a glut of rupees, causing them to depreciate against the dollar.
“India joins the money printers.”
That’s how an ING Bank research note describes the Reserve Bank of India’s explicit commitment to buy ₹1 lakh crore ($14 billion) in government bonds this quarter. Since this new move has been given a fancy name Government Securities Acquisition Program it will probably both extend and expand.
Large-scale bond-buying and money-printing may result in a glut of rupees, causing them to depreciate against the dollar. Which is why the foreign-exchange market pushed the dollar 1.56% higher against the rupee, one of the largest one-day moves in the past decade.
RBI Monetary Policy: India s Central Bank Says Boo Carry Traders Faint bloombergquint.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bloombergquint.com Daily Mail and Mail on Sunday newspapers.
Updated Apr 08, 2021 | 13:11 IST
Neelkanth Mishra of Credit Suisse in a note to his clients says that the MPC keeping rates and its accommodative stance unchanged in Apr-2020 was largely expected. (Representational Image)
Key Highlights
CS: As expected, the Monetary Policy Committee (MPC) left policy rates (vote 6-0) and its accommodative stance unchanged
CS: RBI promising to maintain an orderly yield curve should prevent premature tightening
Neelkanth Mishra of Credit Suisse in a note to his clients says that the MPC keeping rates and its accommodative stance unchanged in Apr-2020 was largely expected, as inflation and growth targets were mostly unchanged.
RBIâs policy stance very balanced: India Inc. After the RBI announced that it is maintaining the status quo with regard to its policy stance, India Inc. has reacted very positively to the developments. Here are some of the reactions.
Apr 7, 2021
Despite a pause in rates, RBI s latest policy does enough to boost liquidity and revive growth engines.
Image: Sanjay Rawat
The Reserve Bank of India today announced its monetary policy, wherein it kept the repo rate unchanged at 4%, and retained its accommodative policy stance.
India Inc. has reacted very positively to the developments. Here are a few of such reactions.