Quote on Monetary Policy Committee by Dr. V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services.
Below the Quote on Monetary Policy Committee by Dr. V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services.
"The MPC is unlikely to act on policy rates on April 5th. Even though rate cuts can be expected this year, the time is not yet conducive for a rate cut. The growth momentum in the economy is strong and FY 24 is likely to register GDP growth of 7.6%, much ahead of the initial estimates. It is possible for India to achieve a growth rate of 7% in FY25. So, a rate cut is not warranted now.
The April 5th policy announcement is unlikely to impact the market, given the current market mood and resilience. The market is presently influenced by retail investor enthusiasm, the sustained flows into the market via mutual funds and fundamental support from good GDP growth and decent corporate earnings."
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