RBI's got a tough call in Feb as global peers opt for rate cuts
Four of the six central banks overseeing the 10 most heavily traded currencies held meetings since November, and have lowered their lending benchmarks.
When India's monetary policy committee chaired by the Reserve Bank of India Governor will meet on February 5-7 to review policy rates, economists expect the central bank to prioritise injecting liquidity in the banking system over a rate cut.
Central banks in New Zealand and Sweden cut interest rates by 50 basis points, while the US Federal Reserve and Bank of England cut rates by 25 basis points. Australia and Norway held their rates.
«In the case of Indonesia, the Bank of Indonesia took a conscious call to prioritise growth over currency strength. On the other hand, the Bank of Korea opted for a dovish pause, and indicated that they might look to move in the next policy. In the RBI's MPC (Monetary Policy Committee), we could see either of the two cases mentioned above,» Nitin Agarwal, head of trading at ANZ Bank told ET.
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