Key Points
Indias central bank wont face pressure to hike interest rates if the US Federal Reserve tightens monetary policy further, the countrys top economic adviser to the government said...
The RBI cycle has not been so tightly linked to the Fed cycle mainly because external finances and financial stability are much better now, Indias Chief Economic Adviser V Anantha Nageswaran said in an interview with Bloomberg TVs Haslinda Amin on Thursday..
If the Fed were to hike 25 basis points, or even two times, that will not put pressure on the RBI to follow suit...
The Federal Reserve left interest rates unchanged on Wednesday while still keeping alive the possibility of more hikes given inflation remains above its 2% target and economic growth is strong...
The RBI has some degree of freedom than before given strong macroeconomic fundamentals, Nageswaran said.. Indias economy is on track to grow more than 6% this year, with risks from oil prices and weather manageable, the chief economic adviser said...
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