RBI Monetary Policy : The repo hike is likely to be a welcome move Says Ajit Kabi, LKP Securities
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Below are View On RBI announcement By Ajit Kabi, Banking Analyst at LKP Securities
"The 50bps hike in policy rate to 5.9% was expected. However, the inflation estimates were the key monitorable. The inflation was expected to be at 6% for the second half of the financial year and GDP growth is expected to be at 7% for the entire fiscal.
Factoring the daunting challenge of inflation, the repo hike is likely to be a welcome move. The rate hike was earlier anticipated and expected to be in the indices price."
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