Fed Cut Impact Not 'Very Influential' on India, Says Goldman Sachs' Timothy Moe
Goldman Sachs
Goldman Sachs economist Timothy Moe believes that the Federal Reserve's recent interest rate cut will not have a significant impact on India.
Moe said that the rate cut is unlikely to lead to a significant increase in capital inflows into India, as investors are still concerned about the country's high fiscal deficit and inflation.
He also noted that the Reserve Bank of India (RBI) has already taken steps to ease monetary policy, and that further easing is unlikely in the near term.
Impact on the Rupee
Moe said that the Fed's rate cut is likely to have a limited impact on the Indian rupee.
He said that the rupee is likely to remain volatile in the near term, but that he does not expect it to depreciate significantly.
Moe also noted that the RBI has intervened in the foreign exchange market to support the rupee, and that it is likely to continue to do so if necessary.
Impact on Indian Economy
Moe said that the Fed's rate cut is unlikely to have a significant impact on the Indian economy.
He said that the Indian economy is still growing at a healthy pace, and that the government is taking steps to address the country's fiscal deficit and inflation.
Moe also noted that the RBI has taken steps to ease monetary policy, and that further easing is unlikely in the near term.
Conclusion
Moe concluded that the Fed's rate cut is unlikely to have a significant impact on India.
He said that the Indian economy is still growing at a healthy pace, and that the government is taking steps to address the country's fiscal deficit and inflation.
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