RBI Gov. Das: Change in policy stance as good as additional 25-bps rate cut
|In an interview with Bloomberg published on Monday, the Reserve Bank of India’s (RBI) Governor Shaktikanta Das noted that the shift in the central bank’s stance to ‘accommodative’, itself suggest an additional 25bps rate cut, as cited by Reuters.
Key Quotes:
We have reduced policy rates by 75 bps and we have shifted to accommodative. And shifting of the stance to accommodative itself means a rate cut of 25 bps at least.
Future policy decisions will depend on incoming data, particularly inflation.
The Indian Rupee remains unimpressed by Governor Das’ comments, with USD/INR back above the 69 handle amid rising oil prices and broad-based US dollar strength.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.