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Market Quote : RBI has taken a more optimistic view on domestic growth by increasing the GDP Says Vinod Nair, Geojit Financial Services
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Below is on Market Quote 8 February 2023 By Vinod Nair, Head of Research at Geojit Financial Services
Bulls took charge of the markets as the RBI’s MPC meeting delivered a smaller rate hike in line with market expectations. RBI has taken a more optimistic view on domestic growth by increasing the GDP forecast while cautiously keeping CPI inflation at 5.3% for FY24. Meanwhile, global markets traded with hopes as investors digested Powell’s speech, which stated that disinflation had begun but pointed towards the possibility of further rate hikes in response to a stronger job market.
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