CORRECTED-MNI: Fed's Hammack-Near Or At Time To Slow Rate Cuts

MNI BRIEF: Fed's Goolsbee Sees Rates Fair Bit Lower In A Year

CANADA JOBLESS RATE +6.8% VS FORECAST +6.6%, PRIOR +6.5%

MNI China Daily Summary: Friday, December 6

MNI: PBOC Net Drains CNY288.1 Bln via OMO Friday

MNI: PBOC Sets Yuan Parity Lower At 7.1848 Fri; -1.64% Y/Y

MNI: UNIV OF MICHIGAN CONSUMER SENTIMENT PRELIMINARY DEC INDEX 74.0

CANADA NOV IVEY PURCHASING MANAGERS INDEX 52.3 SA

EZ/UK Bond Supply Calendar: Austria, UK Auction on Tuesday

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

INDIA: Sell-Side Expect RBI Rate Cuts to Commence in Q4, Uncertainty Noted

INDIA
  • JP Morgan remain agnostic about the timing of the easing cycle given the multiple uncertainties shaping the outlook. While they have used the August meeting as a placeholder for the first cut, much will depend on how the aforementioned sources of uncertainty resolve between now and then, they say.
  • HSBC currently have a 25bp rate cut pencilled in for August, but risks are for it to be pushed to later (October). They expect a shallow easing cycle of a total of 50bp in rate cuts, taking the repo rate to 6% by March 2025.
  • ANZ note that if no further inflation risks arise, they expect a change of stance to neutral in the October meeting, by when headline inflation would have eased and the inflation outlook would look more benign. A rate cut is unlikely to happen before December 2024, in their view.
  • ING are not forecasting the RBI to cut until the fourth quarter of this year. But they say they could move this up to the third quarter if the Federal Reserve begins to ease before then, as this would also take some pressure off the INR.
BulletEM BulletEmerging Market News
BulletEM BulletEmerging Market News

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.