India in 2018: more discretion, less valour7 min read . Updated: 18 Jan 2018, 12:49 AM IST
Oil at $70 will simultaneously pressure growth, erode macroeconomic buffers and constrain policy space; policymakers must tread very carefully
The year 2018 has started like 2017 ended. The synchronized global recovery continues in earnest, yet markets remain sceptical of Fed normalization. Only 60 basis points (bps) of hikes have been priced in for 2018, even less than was delivered in 2017, despite the US unemployment rate now at just 4.1%.
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