EMERGING MARKETS-Indian rupee hits 5-1/2-month low on c.bank decision, stocks climb

0
32
    * Indian stocks up as much as 0.9%, hit 1-1/2-week high
    * Broader Asian equities track global rally
    * China shares gain after return from week-long holiday

    By Harish Sridharan
    Oct 8 (Reuters) - The Indian rupee hit its lowest in
five-and-a-half months on Friday, while stocks firmed, after its
central bank left key rates unchanged and reiterated the need to
unwind pandemic-era stimulus only gradually to aid a nascent
economic recovery.
    Other emerging market stocks in Asia benefited from a rise
in global risk appetite as Washington approved a legislation to
temporarily raise the debt limit and avert a default.

    The Reserve Bank of India (RBI) kept interest rates steady
at a record low, as expected, and said accommodative monetary
policy was needed due to an uneven economic recovery from
pandemic-related shutdowns.
    The RBI's dovishness dashed expectations of investors hoping
it would hint at moving towards policy...

Read more…