The comment on RBI Monetary Policy by Mr. Anand Nevatia, TRUST Mutual Fund
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Below is the comment on RBI Monetary Policy by Mr. Anand Nevatia, Fund Manager-TRUST Mutual Fund
"A 5-1 vote on stance clearly reflects that majority of MPC still comfortable and convinced with accommodative stance. A “favourable than anticipated” inflation trajectory and downward revision of CPI at 5.30% has allayed any fears of near term rate hikes. The Governor has assured the markets of ample liquidity while announcing higher VRRRs to absorb the excessive systemic liquidity. Absence of GSAP has impacted markets negatively specially at the longer end of the curve. The CPI readings will be low for next couple of months. Inflationary expectations could lead to underperformance of longer maturity bonds. Easy liquidity will support performance of funds up to maturity of 3 years.”
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