India ready for Fed rate hike sooner than later – RBI’s Rajan

FXStreet (Mumbai) - The Reserve Bank of India (RBI) governor Rajan, while speaking to NDTV today, assured markets that India is ready for the much awaited Fed rate hike, even if it happens sooner than expected.

US Fed not moving rates creates uncertainty around the world, Rajan said. However, Rajan did acknowledge India’s vulnerability to Chinese economic woes.

The RBI surprised many on Tuesday after announcing a 50 basis point interest rate cut.