Investors in India are piling onto mid and small caps with renewed vigour. In a couple of weeks the narrative will once again shift to quarterly earnings.
The central bank s ninth straight increase took the closely-watched deposit rate to 3.75 percent a level last seen in May 2001 and equal to its previous record high.
The European Central Bank (ECB) has reportedly begun to consider evening out the "corridor" between the ECB s three interest rates, as the bank moves away from its policy of cheap money and towards a situation where banks must borrow from the central bank. The move, which was discussed at length during a policy meeting last week, would be achieved by making the spreads between the rates more equal. However, the policy was parked for now to avoid blurring the ECB s policy message.