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Below is quote on Monetary Policy by Akhil Mittal, Senior Fund Manager-Fixed Income

Maintaining vigil on global macro developments while recognising domestic strengths and vulnerabilities, RBI increased policy rates by 50 bps, largely in line with market expectations. Pausing short of igniting any terminal rate expectations, RBI committed to data dependence for policy moves. I believe it is a very balanced policy and calmed market nerves, which had become edgy post recent fed actions and financial market volatility. As far as rate trajectory goes, I believe RBI would not want to let the interest rate guard down as it makes our currency vulnerable. Hence, as of now, we see repo rate going to 6.40%-6.65% range in next couple of policy meetings. Interest rates are largely expected to remain range bound for now.”

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