India’s macroeconomic fundamentals are quite strong and there is no immediate cause for worry due to the international economic developments, a high-level panel headed by RBI Governor Raghuram Rajan said on Thursday.
At the meeting in Mumbai, the Rajan-chaired sub-committee of the Financial Stability and Development Council (FSDC) however, said there was a need to be vigilant over the emerging situation, an official statement issued here said.
All eyes are now on the US Federal Reserve meeting on September 16-17 to see if there will be a lift-off — a rate hike in the world’s largest economy after a decade of near-zero interest rates.
This will be a challenging decision for the US Federal Reserve given the mixed trends in inflation outcomes and employment data coming out in the US.