Repo rate cut by RBI

RBI has cut repo rates by 25 bps to 5.15%, Reverse repo is reduced to 4.9%. RBI statement says that it will maintain accomodative stance
and ensure that adequate liquidity is available with focus on rate cut transmission.
GDP forecast has been cut to 6.1% from 6.9% for this fiscal. Inflation is expected to remain in the 3.5-3.7% zone.
RBI statement implies that more rate cuts are possible.
Markets remain steady after rate cut announcement. USDINR spot is at 70.93, Nifty is at 11321 and 10 Year yield is at 6.59%.

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