The largest foreign currency borrowing last month by Reliance Industries Limited, the biggest by an Indian corporation, is a record that may stay unbeaten for a while as an increase in dollar debt costs are imminent.
For the first time since December 2018, the US Federal is set to raise its benchmark interest rate to temper inflation that reached multi-decade high.
Chairman Jerome Powell on 26 January said the Federal Reserve is likely to raise interest rates as early as in March and said there are plans to discontinue its bond purchases in that month in order to cool inflation.
“The committee is of a mind to raise the federal funds rate at the March meeting assuming that the conditions are appropriate for doing so,” Powell said, citing the central bank’s Federal Open Market Committee statement.
The widespread expectations are that there will be multiple rounds of rate increases which analysts and investors are terming as the…
