On December 7, the Reserve Bank of India, going against consensus expectations, did not cut interest rates – underlying the assumption that the Indian economy, in the midst of moving to a cashless society, was doing fine, was doing just fine. This assumption is incorrect, says a December 12 Societe Generale report. Also incorrect is the assumption that “demonetization” will achieve its goal of curbing the black market in India. It’s not happening and the economy is suffering as a result, a trend that the bank says could last to the first quarter of 2017 and beyond. Moving to cashless…
Soc Gen: India Move To Cashless Society Hurting Economy
Mark Melin
Mark Melin is an alternative investment practitioner whose specialty is recognizing the impact of beta market environment on a technical trading strategy. A portfolio and industry consultant, wrote or edited three books including High Performance Managed Futures (Wiley 2010) and The Chicago Board of Trade’s Handbook of Futures and Options (McGraw-Hill 2008) and taught a course at Northwestern University's executive education program.
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