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Below is the Views On RBI’s Bi-monthly Monetary Policy by Mr. Rahul Gupta, Head of Research-Currency Emkay Global Financial Services.
“Unexpectedly RBI held interest rates unchanged at 5.15% and maintained the policy stance to accommodative. This means we cannot completely rule out rate cut expectations going ahead.
It has downgraded the FY20 growth targets. Market was expecting a cut of 25bps. This had a negative impact on rupee, and USD/INR rallied after the policy decision. We expect prices to rally towards 71.85 and then 72 amid global trade unrest”.
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