Reserve Bank of India out with their latest rate decision 8 Feb

Some had hoped for a cut in the wake of recent problems associated with Modi's curbs on cash.

  • policy decision consistent with "neutral" mon pol stance with inflation target
  • persistence of inflation exc food, fuel could set floor on further fall in headline number
  • projects inflation range 4-4.5% in April-Sept 2017, 4.5-5.0% Oct-March
  • RBI remains committed to bringing inflation closer to 4% in calibrated manner on durable basis.
  • will ensure efficient, appropriate liquidity management

Minutes to be published on 22 Feb. Next meeting 5-6 April.

Equities losing a bit of ground and down 0.45% in the wake of the announcement.

USDINR 67.36 after 67.25 lows earlier .