Indian shares rose on Thursday, tracking other Asian peers, after underlying U.S. inflation softened in December, boosting the likelihood of further rate cuts by the Federal Reserve. The Nifty 50 was up 0.

India’s inflation rate fell for the second month in a row in December, reaching 5.22% year-on-year, below the 5.30% predicted by analysts polled by Reuters. The data could provide more leeway for India’s central bank- The Reserve Bank of India (RBI) to consider cutting interest rates to support economic growth.

Indian shares are set for a positive start on Thursday, tracking other Asian peers, after U.S. core inflation rose less than expected in December, raising hopes for further easing by the Federal Reserve.