RBI MPC: beginning of a short and calibrated hike cycle
Global meteorological organizations are also reporting that El Niño conditions are set to be the strongest on record, which could mean a global supply shock. Monetary policy has turned notably more hawkish globally of late, with the US Federal Reserve (Fed) delivering its first rate hike since 2023, joining its counterparts in Europe, Japan, Australia, New Zealand, Norway, Korea, Indonesia and the Philippines. The US dollar has further strengthened, with the dollar index rising 2% in September alone.
