- India’s CPI inflation eased to 3.54% YoY in July from 5.08% in June. This figure registered the lowest since August 2019, according to official data released on Monday.
- Indian Industrial Production rose by 4.2% in June, compared to 6.2% in the previous reading, worse than the expectation of 5.5%.
- The swaps market is pricing in steady rates by the RBI over the next three months. However, this is followed by 25 basis points (bps) of easing over the subsequent three months, followed by another 25 bps over the subsequent six months.
- The CME FedWatch Tool showed the possibility of a 50 basis points (bps) interest rate cut by the Fed at the September meeting at 47.5%, down from 52.5% last Friday.
- The US Producer Price Index (PPI) is estimated to ease to 0.1% month-over-month in July from 0.2% in the previous reading
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