US Fed Rate Priced In: CEA

New Delhi: The impact of the US Federal Reserve’s move to cut the benchmark interest rate will be muted for India as it was mostly priced in, Chief Economic Advisor V Anantha Nageswaran said on Thursday. He said that the Indian stock market is already attracting investor interest and overall the rate cut is positive for emerging markets. “The impact on India will be little muted... much of it (rate cut) priced in,” Nageswaran said at Deloitte’s Government Summit 2024.

On Wednesday, the US Federal Open Market Committee voted to cut the federal funds rate target range by 50 basis points to 4.75-5.00 per cent from 5.25-5.50 per cent, against expectations of a cut half that size.