INDIA ENACTS MEASURES TO EASE RUPEE STRAIN
• India attempts to tighten monetary conditions in order to ease pressure on the rupee.
• BI & RBI efforts show impact of higher US rates to influence policy trajectories in Asia via currency market developments.
• Fed’s Tarullo reiterates taper is data dependent, and not calendar dependent.
• Indian core WPI continues to fall, however INR pressure likely to keep policy on hold this month.
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Scotiabank