Economics
India Stocks, Bonds, Rupee Surge as RBI Signals End of Rate Rise
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India’s stocks rose to a three-month high and government bonds rallied the most in seven weeks as the central bank signaled it is nearing the end of the nation’s most aggressive credit-tightening on record.
The rupee, Asia’s worst-performing currency this year, rose the most in two weeks as the Reserve Bank of India boosted its benchmark rate for the 13th time since March 2010, as predicted by 18 of 28 economists surveyed by Bloomberg. Ten expected no change. Today’s policy decision will help temper inflation and leave room for economic growth to improve, Finance Minister Pranab Mukherjee said in New Delhi today.