Quote on RBI MPC Announcement by Vikas Gupta, CEO & Chief investment Strategist at OmniScience Capital
Below the Quote on RBI MPC Announcement by Vikas Gupta, CEO & Chief investment Strategist at OmniScience Capital
"Before the US-Iran-Israel war started, the expectation was that RBI would be biased towards rate cuts. With the oil prices spiking close to $100 the chances of inflation increased and the INR depreciated significantly. Even with the ceasefire apparently in place, it is likely to be a very volatile situation in the near future. Under these circumstances it was expected that the RBI would remain neutral and carefully watch the data and its impact on inflation, the INR and forex reserves. If the war actually ceases before the next meeting, the RBI could focus more on growth and possibly cut rates."
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