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India's central bank is stepping in to ease banking system liquidity conditions as a national election which stretches over six weeks is hurting government spending despite strong tax collections. ... -May 06, 2024 at 02:52 am EDT - MarketScreener
The Reserve Bank of India (RBI) kept the policy interest rate and monetary stance unchanged for the seventh consecutive review meeting, citing uncertainties in food prices and leveraging robust growth prospects. Governor Shaktikanta Das emphasized India's relative economic stability amidst global challenges, urging sustained efforts to maintain low inflation.
Indian government bond yields were steady on Friday amid a lack of fresh triggers, while market participants digested minutes of the central bank's February meeting that showed most members considered current interest rates as appropriate.
The investment mood improved in the December quarter, but remains weak since the same quarter a year ago. Analysts see a patchy outlook for now due to the looming Lok Sabha elections, but the overall trend is optimistic.
The Indian rupee this week could build on its gains from Friday's rally and traders will keep an eye on the Bank of Japan's policy outcome, while bonds will track moves in U.S. Treasury yields and...