Market Quote : Continuation of the policy stance as withdrawal of accommodation indicates Says Mr. Vinod Nair, Geojit Financial
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Quote on Market 30 September 2022 By Vinod Nair, Head of Research at Geojit Financial Services.
"An in-line rate hike along with the RBI’s confidence in the economy’s growth momentum aided the domestic market to alter the seven-day losing streak. The decision to retain inflation at 6.70% with a marginal cut but a healthy GDP forecast of 7.0% indicates the resilience of the Indian economy. Although the commentary warned about prevailing risks to the domestic economy from the global economy, the MPC refrained from sounding very hawkish. Continuation of the policy stance as 'withdrawal of accommodation' indicates more rate hikes in the future, but data-driven"
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