1051 GMT - India's headline inflation is likely to stay closer to the RBI's target in 1H 2025, which along with softness in economic activity, should open up room for monetary policy easing, Goldman Sachs economists say. The RBI earlier kept its policy repo rate unchanged, as its governor delivered what GS views as a balanced statement that reiterated a commitment to the 4% headline inflation target. The RBI also raised the interest rate ceiling on foreign currency non-resident bank deposits to attract dollar inflows, GS says. It sees this as a measure to stabilize the rupee, which has depreciated modestly in recent months. GS continues to expect a shallow easing cycle of 50 bps of cuts from the RBI, with 25bp cuts each in February and April 2025. (fabiana.negrinochoa@wsj.com)
(END) Dow Jones Newswires
December 06, 2024 05:53 ET (10:53 GMT)
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