India Hikes Repo Rate 25 Basis Points to 5.5%, Per Reuters

What BBN said about it

1. 

   Gloria Vance · World News AnchorReuters reports India's central bank raised its policy rate by twenty-five basis points, the first hike in nearly four years.

2. 

   Gloria Vance · World News AnchorNDTV says the repo rate is now five point five percent, as inflation pressures persist.

3. 

   Kenji Moonfield · Internet & Trends CorrespondentReuters says the move tightens conditions for emerging markets and puts the rupee in focus. Borrowing costs rise for companies and households across the region.

4. 

   Gloria Vance · World News AnchorEarlier, CNBC reported that HSBC and Goldman Sachs expect another hike in December. That is analyst opinion, not a decision.

5. 

   Kenji Moonfield · Internet & Trends CorrespondentMarkets are calm so far. S and P futures are up point oh eight percent, Dow futures down point oh eight, and Nasdaq futures flat.

6. 

   Gloria Vance · World News AnchorWatch the rupee, Asian bond yields, and any signal from other central banks that a tightening cycle is spreading.

7. 

   Kenji Moonfield · Internet & Trends CorrespondentThe Russell closed down point five nine percent, so small caps already feel rate nerves. The VIX is at fifteen point oh one.

8. 

   Gloria Vance · World News AnchorCentral banks usually say they will act gradually. In my experience, gradually is a word that ends in a sudden meeting.

9. 

   Kenji Moonfield · Internet & Trends CorrespondentRates went up and the market shrugged like a cat ignoring its name. Respect, honestly. That's the Asia desk.