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Moneycontrol Pro Panorama | What will it take to revive animal spirits?

In today’s edition of Moneycontrol Pro Panorama: India to quality check its imported goods, collegium issue a bone of contention, fissures in US-EU unity, India needs specific agenda for Global South at G20, and more

December 05, 2022 / 03:11 PM IST
Representative image

Representative image

Dear Reader, 

The Panorama newsletter is sent to Moneycontrol Pro subscribers on market days. It offers easy access to stories published on Moneycontrol Pro and gives a little extra by setting out a context or an event or trend that investors should keep track of. 

The markets seem to be waiting and watching before deciding on their next move. After last week’s speech by Fed chair Jay Powell, the market’s direction had turned positive, interpreting his comments to mean that a tapering of tightening was on its way. That got punctured a bit by an unusually strong US jobs market report that gave the hawks in the market some reason to preen. It’s that familiar feeling of uncertainty.

The Reserve Bank of India’s monetary policy committee will meet this week to take a call on interest rates. The MPC recently had to write a letter to the government explaining its failure to control inflation. Since inflation is high and expected to remain high, a rate hike has been priced in by markets. But the MPC is also seeing dissenting voices that could lead to a pause, if more join their camp. It’s not an easy decision. Here’s Aparna Iyer’s take on their choices and whether pausing too early could do more damage later on.