Quote on RBI Monetary Policy By Mr. Yash Gupta, Angel One Ltd
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Below is quote on RBI Monetary Policy By Mr. Yash Gupta, Equity Research Analyst, Angel One Ltd
As expected, the repo rate was hiked by 50 bps to 4.90%. After the commentary of the RBI governor last month, the market has already expected a rate hike of 50bps in the June meeting. So now the RBI has taken a decision on the rate hike of 50bps. We believe that this rate hike is already priced in the market. Along with this bank, rates have also increased by 50bps to 5.15%, and withdrawal of the accommodative stance for the Indian economy.
A good takeaway for the market is that RBI has retained the GDP forecast of 7.2% for FY2023 and CPI inflation is expected to be at 6.7% for FY2023.
Overall the policy is in the expectation of the market, a 50bps rate hike is already priced in the market now the market focus will be on the Fed rate hike.
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