Indian shares jumped to three-week highs in early trade on Tuesday, as rate hikes fears were soothed after the country's central bank said inflation looked set to ease and as risk sentiment improved globally on Britain's fiscal policy U-turn.
The Reserve Bank of India
, despite unacceptably high inflation, to avoid stalling a recovery in economic growth, monetary policy committee member Jayant Varma told Reuters in an interview on Monday.Varma's comments came as the RBI, in its monthly bulletin on Monday, said the country's retailfrom the five-month high of 7.41% hit in September, while economic activity is poised to expand.
In broader Asia, equities rose as the dramatic U-turn in British fiscal policy brightened investor sentiment, while the U.S. dollar took a breather at its lowest levels in more than a week.
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