Forex Flash: More action for an RBI rate cut - Standard Chartered

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FXstreet.com (Barcelona) - The Reserve Bank of India (RBI) reduced the cash reserve ratio ( CRR ) by 25bps to 4.50%, effective from September 22. According to Standard Chartered analysts, "the CRR reduction is expected to inject INR 170bn of INR liquidity into the banking system, with the move primarily aimed at managing the tight liquidity." The bank is still concerned about inflation. "Any rate cut will depend on further measures towards fiscal consolidation" the bank notes, expecting rates market "to remain range-bound."



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This article appears in: Investing , Forex and Currencies

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