06-10-2023 11:28 AM | Source: Geojit Financial Services
Quote on Status-Quo MPC Decision: Eyes on US Job Data for Market Trends from Dr. V K Vijayakumar, Geojit Financial Services
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Below the quote on the Post MPC meeting and outlook for the markets from Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
"A completely in line with expectations policy is neutral from the market perspective. Not only the policy rates but the growth and inflation targets for FY24 remain unchanged. More than this status-quo statement from the MPC, tonight’s job numbers from the US will determine the market trend in the near-term. Rate sensitives like banks will start discounting the positive Q2 results expected in the coming days.
The warning from the governor that the central bank will resort to OMOs to absorb excess liquidity if necessary has pushed the 10-year bond yields up marginally."
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