![]() ![]() Another Reuters report says the Fed should now raise rates by 150 basis points in the coming months, taking them from nearly zero in March to 3 to 3.25. The RBI’s failure to raise interest rates as snappily as the US Federal Reserve is one of the factors contributing to the drawdown. A few economists in the check advised that the widening current account deficit, which was expected to end the fiscal year at its highest in a decade, could cause overall forex reserves to fall further than their forecasts during the subsequent period. ![]() As the pressure on the rupee and the current account deficit grow, “we will witness more interventions in the days to come, performing an advanced drain on the FX reserves by the end of this time. ![]()
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