RBI Monetary Policy Reaction : RBI to continue vigil on inflation outlook Says Ajit Kabi, LKP Securities
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Below are View On RBI announcement By Ajit Kabi, Banking Analyst at LKP Securities
RBI raised policy repo rate by 25bps to 6.5%. 4 out of 6 members of MPC voted in favour of hiking rates. RBI to continue vigil on inflation outlook. According to the RBI Governor, Inflation is likely to stay at 5.6% for 4QFY23, and expected to stay above 4% in FY24. Policy rate still trails Pre-COVID level.
The rate hikes are likely to raise the EMI burden for floating rate linked loans. However, the bank’s NIMs are likely to stay stable as an increasing proportion of EBLR linked loans.
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