As expected the MPC has hiked key rates by 35 bps Says Mr. Nish Bhatt, Millwood Kane International
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Below is Perspective on RBI`s MPC announcement by Mr. Nish Bhatt, Founder & CEO, Millwood Kane International
“ As expected the MPC has hiked key rates by 35 bps. The repo rate is now at a more than 4-year high. RBI maintains policy stance at Withdrawal of Accommodation. The softness in retail inflation has been the primary reason for the slower rate hike. CPI inflation cooled off to a 3-month low for October. The central bank has hiked rates by 50 bps three times before this and 40 bps in the month of May. The RBI has hiked rates for the fifth consecutive time this calendar year.
The central bank is expected to maintain the status quo in H1CY23, the cumulative rate hike has been 225 bps till now in this cycle. The economic growth, the trajectory of crude oil, inflation, and the geopolitical situation will guide RBI's action in H2CY23.”
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