Headline inflation in India also remains fairly benign with persistent inflation pockets like vegetable prices unlikely to be materially influenced by monetary policy. All in all, we see a high likelihood that a cut is coming.
India’s gold consumption is projected to drop to 650–700 tonnes this year as a sharp price rally hurts jewellery demand. Investment buying remains strong, with
Federal Reserve President John Williams told CNBC on Friday he does not see an imminent need to follow last week’s interest rate cut with another
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