'US Fed Rate Hike: Impact on Indian Markets Minimal'

Submitted by Subeditor on Thu, 2015-12-17 12:15 New Delhi: The Chief Economic Adviser (CEA) Arvind Subramanian on Thursday said the impact on India on the interest rates hike by US Federal Reserve will be minimal. “This rate hike was widely anticipated so, I don't think it would have much impact of this per se. I think the impact will depend upon what it signals about the future rate hike. As far as India is concerned we are really well cushioned on the macro economic side, inflation is coming down, fiscal deficit situation is very good, so for all these reasons, I think the impact on India will be minimal,” Subramanian told the media here. “We will do the press briefing tomorrow on our fiscal and monetary measures to arrest the volatility of the market,” he added. The US Federal Reserve has raised interest rates by 0.25 percent, its first increase in nine years. (ANI)