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Fiscal and monetary restraint

The Finance Ministry resisted the temptation to ramp up pre-election giveaways in the Interim Budget for FY24/25, and we think the RBI will show similar restraint next week by maintaining its hawkish rhetoric in its policy announcement. But monetary loosening is still likely to come onto the agenda later this year.

We'll be discussing EM policy easing, debt risks and the outlook for bond yields in our monthly EM drop-in on Thursday 8th February. Register here.

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