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The Reserve Bank of India cut its benchmark repo rate by 25 basis points to 5.75%, a nearly nine-year low, and changed its policy stance to accommodative. The rupee closed marginally lower at 69.28 per dollar as foreign fund outflows and higher crude prices offset the move, which markets had already priced in.
Lower Indian rates and an accommodative stance support domestic demand and the broader economy, but the rupee's weakness keeps import costs elevated for Indian buyers of feed ingredients.
firstpost.comJun 6, 2019Not 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.
