Ella 
The Indian rupee (INR) was on the weak side on Thursday. The Reserve Bank of India’s (RBI) monthly bulletin highlighted the potential impact on economic growth if headline retail inflation fails to fall to the medium-term target of 4% and remain at this level.
India’s headline retail inflation rose by 5.55% in November, weaker than market expectations. According to the latest estimates from the Reserve Bank of India, consumer price index (CPI) inflation will average 4% in July-September 2024. Bank of India Governor Shaktikanta Das said that the inflation rate reaching 4% should not be just a one-time event, and the Monetary Policy Committee should believe that 4% has become a durable target.
Investors will focus on annualized U.S. third-quarter gross domestic product data due later on Thursday. Growth figures are expected to hold steady at 5.2%. Investors’ attention will turn to Friday’s release of the core personal consumption expenditures price index (PCE) for November, which is expected to rise 0.2% month-on-month and 3.3% year-on-year.
