Narendra Modi’s quest to lead India’s 1.2 billion people may ultimately lie in the hands of three women who wield clout as regional power brokers and have attacked him on the campaign trail.
India, the world’s second-largest gold consumer, will probably keep restrictions on imports to control the current account deficit and defend the rupee, said the managing director of the country’s biggest refiner.
Indian stocks fell for a third day amid concern the central bank may keep interest rates elevated after data showed consumer prices quickened last month for the first time since November.
The U.S. Federal Reserve considers developments in emerging markets when formulating policies, former Fed Chairman Ben S. Bernanke said.
India’s consumer-price inflation quickened in March for the first time in four months, keeping pressure on the central bank to keep interest rates elevated.
International central bankers pledged to take care in telegraphing monetary-policy shifts and consider their global effects amid renewed calls from emerging markets for greater cooperation.
India is prepared for potential financial fallout if the Federal Reserve increases interest rates before April 2015, Reserve Bank of India Governor Raghuram Rajan said yesterday in Washington.
Indian stock-index futures dropped after the benchmark index climbed to a record yesterday.
India’s 10-year bonds snapped a four-day decline on speculation a rally in yields to the highest level since November attracted investors.
The International Monetary Fund and World Bank will hold their spring meetings in Washington as finance ministers and central bankers from the Group of 20 plan a parallel gathering.
"I hope that the only thing that was surprising about monetary policy today was the lack of surprise."
- Raghuram Rajan on Apr 01, 2014
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