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INDIA: Country Wrap: RBI tomorrow, No Cut Expected. 

INDIA
IndiaEM BulletBulletAPACEmerging Market News
  • RBI seems focused on ensuring sufficient liquidity is the in the system, rather than cutting rates.
  • Key data metrics mentioned in last RBI statement remain strong, albeit down from prior months.
  • Governor has continued to be hawkish in his comments publicly.
  • No cut expected tomorrow but the narrative to open the door for potential cuts in 2025.
  • See full review:
  • https://media.marketnews.com/RBI_Preview_December_2024_FINAL_a6ed4b69a8.pdf?utm_source=email&utm_medium=email&utm_campaign=20241204
  • The NIFTY 50 having had three days of positive returns is opening up weaker by -0.26% as traders become more balanced on the possibility of a rate cut from the RBI tomorrow. 
  • INR: steady again today at 84.73
  • Bonds: very quiet start to Thursday with 10YR 6.687%
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  • RBI seems focused on ensuring sufficient liquidity is the in the system, rather than cutting rates.
  • Key data metrics mentioned in last RBI statement remain strong, albeit down from prior months.
  • Governor has continued to be hawkish in his comments publicly.
  • No cut expected tomorrow but the narrative to open the door for potential cuts in 2025.
  • See full review:
  • https://media.marketnews.com/RBI_Preview_December_2024_FINAL_a6ed4b69a8.pdf?utm_source=email&utm_medium=email&utm_campaign=20241204
  • The NIFTY 50 having had three days of positive returns is opening up weaker by -0.26% as traders become more balanced on the possibility of a rate cut from the RBI tomorrow. 
  • INR: steady again today at 84.73
  • Bonds: very quiet start to Thursday with 10YR 6.687%