Falling oil prices give RBI more room to focus on growth, Standard Chartered says
Falling oil prices give the Reserve Bank of India more room to focus on growth, according to Standard Chartered. But the bank says the relief is uneven across Asia. Oil-importing economies benefit more from the drop in prices.
Falling crude oil prices give the Reserve Bank of India more room to prioritise growth in its monetary policy, according to Standard Chartered. In the assessment carried by the Economic Times, cheaper energy is said to ease upward pressure on inflation.
The bank stresses that this relief is uneven across Asia. Oil-importing economies benefit relatively more from the drop in prices, while the effect can differ for exporting countries.
As an economy that imports much of its energy, India is sensitive to the path of oil prices. How the RBI balances growth and inflation in the period ahead will be watched closely by markets.
Read next
Guam and Northern Marianas brace for Super Typhoon Bavi
People in Guam and the Northern Marianas moved to emergency evacuation centres ahead of Super Typhoon Bavi. The National Weather Service said the storm was forecast to bring winds of up to 260 kilometres per hour. That is equivalent in strength to a category 5 hurricane.
BP weighs quitting offshore wind farm project in northern Japan
Canada's Couche-Tard in talks with Grupo Ultra to buy stake in Brazil's fuel retailer Ipiranga
OPEC+ set to approve another oil output increase of 188,000 barrels a day from August
