Japanese stocks declined by over 1% and bond yields rose in anticipation of the Bank of Japan’s interest rate decision. Meanwhile, tech stocks experienced a downturn, and Nvidia’s market value plummeted. Oil prices increased following a report on US crude stockpile drawdowns. Market watchers also looked ahead to potential Fed rate cuts predicted by Goldman Sachs for later this year.
RBI eases restrictions on cash credit accounts, eases current account norms
The Reserve Bank of India has lifted all restrictions on banks opening and maintaining cash credit accounts, offering greater flexibility for short-term working capital loans.