Mark Mobius says increasing rates now would be a big mistake by RBI
The report said that headline inflation is at the highest level in five months and above the 4 percent midpoint of the central bank’s target band, while core inflation -- which strips out food and fuel -- has climbed above 6 percent. But Mobius reportedly said that various Indian states are facing problems and a cut in borrowing costs is what’s needed to boost investments.
Veteran emerging markets investor Mark Mobius has said that the Reserve Bank of India (RBI) will make a “big mistake” if it raises interest rates this week, a Bloomberg report said today. Image source: Reuters