Quote on Monetary Policy Committee Announcement from Ajit Kabi, Research Analyst at LKP Securities
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Below the quote on Announcement from Ajit Kabi, Research Analyst at LKP Securities
MPC voted 5:1 for keeping the rate unchanged at 6.5%, whereas the focus shifting towards withdrawal of accommodation. The reverse repo fixed at 3.35%.
RBI may commence repo rate cuts from October, It will wait to see monsoon status this year, then will take decision.
Overall it is expected that low interest rates scenario will start from this year ultimately positive for stock market.
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