The MPC will hold as budget proposals sink in4 min read . Updated: 07 Feb 2018, 02:03 AM IST
Fiscal pressures as well as global headwinds will be in focus as the monetary policy committee meets
We are at the intersection of a series of data and policy releases. Globally, a crucial policy meet of the European Central Bank (ECB) was followed by the last meeting chaired by the US Federal Reserve’s (Fed’s) Janet Yellen, preparatory to the transition to the new chairman, and in all likelihood, a more hawkish Fed in 2018. Global financial markets have now begun to believe that the Fed’s intention is of hiking its policy interest rates three times, and pricing US interest rates accordingly. Given the big surprise of the Eurozone’s recovery in 2017, the ECB has also become sanguine about tapering its loose policy to avoid a financial bubble building up again.
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