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As the Covid-19 pandemic continues to remain a bigger concern for the global economy, major central banks around the globe have reduced interest rates to near-zero to address the situation while emerging economies, including India, have also reduced interest rates to historic lows
While developed economies are facing deflationary pressure, the monetary easing around the world is expected to continue in the coming year also as the global economy will need more fiscal support to recover.
However, higher inflation remains a major concern for India. Still, RBI is not looking at inflation and has clearly mentioned its pro-growth stance. Thus, policy rates in India are also likely to remain unchanged in the foreseeable future.
Meanwhile, as the dollar continues to weaken against a basket of major currencies, we have seen investments into riskier assets, including commodities in 2020. This is expected to continue next year as well
Click on the attachment for the full list of ICICI Direct’s stock picks for 2021:
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