Rajeev Malik, CLSA said, "Indian financial assets will react positively to the FOMC's unexpected decision of no taper. The increased global risk-on will be unequivocally positive for rupee, equities and bonds. However, beyond the near-term reaction, the headwinds for the rupee from the anticipated global liquidity tightening in 2014 remain unchanged."
"The RBI will still signal a hawkish tone and may partly reverse minimum daily CRR balance requirement for banks," he added.
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