A leading candidate to be President Donald Trumps choice for Federal Reserve chair said that he would present the presidents views to Fed officials for their consideration but they could reject them if they chose when making decisions on interest rates.
Bankers said the move will delay margin recovery since they cannot cut deposit rates sharply due to stiff competition from alternative investment avenues such as mutual funds.
Indian equity benchmarks ended the week marginally lower amid sustained FII outflows and US-India trade uncertainty, though sentiment improved after a US Fed rate cut. The Nifty reclaimed key technical levels, while autos and metals led gains. Global cues, currency moves and earnings outlook remain crucial.
