Quote On RBI Rate Hike: Monetary Policy Committee hikes the repo rate by 35 bps to 6.25 % Says CA Manish P. Hingar, Fintoo
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Below Is View On RBI Monetary Policy By CA Manish P. Hingar, Founder at Fintoo
“RBIs Monetary Policy Committee hikes the repo rate by 35 bps to 6.25 pct. It is on the expected lines. Real GDP Growth projects at 7.1 pct for Q1 FY24. Cuts FY23 GDP Growth Forecast to 6.8 pct from 7 pct. India's CPI index rose 6.8 pct in October from a year earlier after a 7.4 pct increase in September, compared with the central bank’s inflation target of 2-6 pct. Inflation may ease but will stay above Target. The tone is slightly hawkish. We believe that 6.25% could be the terminal rate for now. Real estate stock may react as EMIs are expected to rise.”
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