Inflation key as RBI review looms

MUMBAI: India’s inflation data will likely shape up as the most important economic indicator ahead of the RBI’s policy review on October 30.

A Reuters poll shows wholesale price inflation likely rose to 7.70 percent in September, the highest this year.

India’s OIS rates shows investors are cautiously positioned for RBI to cut rates, but remain unconvinced it will happen this month.

The 1-month OIS rate is trading at 7.92 percent, marginally below the RBI’s 8.00 percent repo rate.

The rupee is expected to resume its rally next week and rise towards 52 levels, though a broad range of 51.50 to 53.50 over the next month is expected to hold.

Stock movements from corporate earnings results could impact foreign fund flows.

Among the big companies, Reliance Industries and Axis Bank will post earnings on Monday, while ITC and Tata Consultancy Services will post earnings on Friday.

Be Part of Quality Journalism

Quality journalism takes a lot of time, money and hard work to produce and despite all the hardships we still do it. Our reporters and editors are working overtime in Kashmir and beyond to cover what you care about, break big stories, and expose injustices that can change lives. Today more people are reading Kashmir Observer than ever, but only a handful are paying while advertising revenues are falling fast.

ACT NOW
MONTHLYRs 100
YEARLYRs 1000
LIFETIMERs 10000

CLICK FOR DETAILS


Observer News Service

Leave a Reply

Your email address will not be published.

KO SUPPLEMENTS