By Tim Seymour
The Indian stock market has gone from last year's record peaks to become the worst performer in the BRIC group. Is this a buying opportunity or a broken economy?
India's central bank raised interest rates today for the ninth time in a year in a desperate effort to combat inflation that it predicts will stay around 9% for the rest of the year.
Thanks to the rate hike fever, the Mumbai stock market has been the slumping to the point where it could easily become a buying opportunity some time soon ? just not today.
The issue is that the governor of the Reserve Bank of India remains extremely outspoken about fighting the country's inflation problems. In that light, today's 50 basis-point rate hike was not a huge shock, but it starts to raise questions about just how high rates can go before inflation stops rising.
We
Complete Story »
No comments:
Post a Comment