Sakshi Gupta
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Like Indonesia, India's central bank may hike rates to defend its currency
India's central bank may defy expectations that it will leave its benchmark interest rate unchanged during its monetary policy decision meeting on Friday. The majority of economists polled by CNBC expect the Reserve Bank of India to keep rates unchanged at 5.25% while signaling a rate hike may only occur towards the end of the year. A minority expect policymakers to act at this week's meeting in a bid to anchor the rupee, which has depreciated to record lows against the dollar.
India's GDP stays robust in January-March as domestic demand offsets external weakness
India's GDP stays robust in January-March as domestic demand offsets external weakness NEW DELHI, June 5 : India's economy grew an unexpectedly strong 7.8 per cent year-on-year in the January-March quarter, the government said on Friday, as robust private investment, farm output and construction activity offset the early impact of the Middle East conflict. The print, the second in an updated data series with a revised base year and wider coverage, was well above a forecast of 7.2 per cent...