Quote on MPC Announcement by Ajit Kabi, Research Analyst at LKP Securities.
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Below the Quote on MPC Announcement by Ajit Kabi, Research Analyst at LKP Securities.
RBI MPC meeting outcome
* RBI kept the policy rate unchanged at 6.5% (expected).
* ?RBI is cautious on inflation and retail inflation projected at 5.4%.
* ?GDP growth for FY24 pegged at 7%.
* ?No indication of rate cut in near term.
We were expecting a dovish stance but RBI provides no information of rate cut soon. The cautious view on inflation is disappointing. The expected GDP growth of 7% is below out expectations of 7.3%.
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