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.
Most emerging-market stocks retreated as declines in Russian and Indian equities offset a rally in Internet companies.
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.
In 2004, Indian stocks suffered their biggest rout in four years when the Congress Party defied opinion polls by winning national elections.
India’s 10-year bonds snapped a four-day decline on speculation a rally in yields to the highest level since November attracted investors.
Indian stock-index futures fell after the benchmark equity gauges climbed to an all-time high.