Overnight indexed swap (OIS) rates in India have risen after the Reserve Bank of India’s recent policy meeting, signaling that investors anticipate no rate cuts until early 2025, contrasting with previous expectations for the last quarter of 2024. The one-year OIS rate reached 6.82%, its highest level since December 13, while the five-year rate stood at 6.48%, the highest in four months. Elevated OIS rates suggest a prolonged period of stable interest rates according to market expectations.
RBI Expected to Maintain Interest Rates Until Early 2025
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