The quarter-percentage-point increase in the target for overnight U.S. interest rates was expected. As Chinese and global growth concerns took the spotlight in 2016, the Fed's aggression receded.No longer, though. A 1 percentage point increase in the limit may attract 800 billion rupees ($12.3 billion), according to Nomura Holdings Inc.That could be important because New Delhi's financing needs are high. Local banks, the biggest bond buyers, are sitting on a $192 billion surplus of Indian government IOUs. Bank Indonesia is valiantly holding interest rates 1 percentage point lower than where they were three years ago.

Source: Economic Times March 22, 2018 07:52 UTC