India ETFs Surge On Interest Rate Cut (EPI, PIN, SCIF)
Christian Magoon:The Reserve Bank of India has announced a 25bps cut in interest rates today spurring India ETFs forward. This was the first time India’s central bank cut interest rates in nine months and is a result of a rate of inflation that is decreasing. Large cap focused India ETFs including the WisdomTree India Earnings ETF (NYSEARCA:EPI) and the PowerShares India ETF (NYSEARCA:PIN) gained more than half a percent on the news.
India’s interest rates have been relatively high compared to many developing countries due to inflation concerns.
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