Economic affairs secretary Ajay Seth sought to delink the Fed rate cut from any potential action by the Reserve Bank of India (RBI). The Fed has done what it feels to be the best for the US economy and the RBI will be guided more by the domestic reality, Seth said. Separately, chief economic adviser V Anantha Nageswaran said at an event that much of the Fed action was factored in by investors and its impact on India could be more muted than on other emerging economies, as the domestic market has already been generating a lot of investor interest.
Asian stocks fall ahead of US non-farm payroll data
Shares in Australia and Japan fell more than 1% in opening trade while equity index futures for Hong Kong slipped. Drops for Japanese benchmarks reflected
March 7, 2025