The US Fed cut rates to the bare minimum level of 0.00-0.25% late on Sunday to infuse liquidity into the system. The Fed will also do a $700 billion securities purchase program to infuse liquidity into the system. The Dow Futures and the global markets have cracked post this move as they see it as a clear admission that the economy is slowing. For the RBI the message may be act fast and start cutting rates. RBI has been holding on for last 2 weeks but with inflation now loser at 6.58%, the pressure on the RBI may increase to cut the rates at the earliest.