- Reserve Bank of India Governor Sanjay Malhotra expressed confidence in the Indian economy, stating that underlying inflation pressures are muted.
- Following the central bank's decision to leave interest rates unchanged and the governor's dovish tone, traders dialed back their bets on an October rate hike.
- Malhotra ruled out an early end to the diaspora deposit program, anticipating robust inflows that will support the rupee.
Quotes
“underlying inflation pressures are muted”