0904 GMT - The RBI has clearly prioritized currency stability amid a global environment of rate cuts by major central banks, says Umeshkumar Mehta, CIO at Samco Mutual Fund. While signs of an economic slowdown are visible, the RBI governor has resisted pre-empting a rate cut, focusing instead on controlling inflation, which has breached the upper tolerance band due to buoyant food prices, Mehta says in commentary. As global monetary easing continues, the steps taken by the RBI are likely to align with broader international central bank actions, he says. (fabiana.negrinochoa@wsj.com)
(END) Dow Jones Newswires
December 06, 2024 04:04 ET (09:04 GMT)
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