Market Quote : Despite the rate hike being on the higher side of the expectations, the market welcomed the RBI`s move Says Mr. Vinod Nair, Geojit Financial
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Quote on Market 05 August 2022 By Vinod Nair, Head of Research at Geojit Financial Services.
"Despite the rate hike being on the higher side of the expectations, the market welcomed the RBI's move of 50 basis hike with rising bond yields. Even though metals prices are softening, RBI decided to keep FY23 inflation targets unchanged at 6.7 percent, which is above the tolerance level. However, given that Q3 and Q4 inflation is anticipated to be between 4.0 percent and 4.1 percent, the market is hopeful for the future."
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