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The Reserve Bank of India raised its policy rate by 25 basis points on February 8, in line with expectations. The rupee was little changed at 82.69 per dollar after the announcement.
The central bank kept its stance of withdrawing accommodation and signaled that further hikes could come.
Higher Indian rates raise borrowing costs for feed mills, dairy and poultry operators, which can slow feed demand growth. The rupee's muted reaction suggests the hike was largely priced in, so the currency-driven feed cost impact is limited.
reuters.comFeb 8, 2023Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
