Reserve Bank of India with latest interest rate decision 2 Aug
- reverse repo down to 5.75%
- MPC will continue monitoring movements in inflation to ascertain if recent soft readings are transient or if a more durable disinflation is underway
- MPC remains focussed on keeping headline inflation close to 4% on a durable basis
- there is an urgent need to reinvigorate pvt investment
- MPC decided to keep policy stance neutral and to watch incoming data
- 4 out of 6 MPC voted in favour of 25bps cut
- 1 for hold
- 1 for 50bps cut
Many expected/hoped the RBI would cut last time so after yesterday's awful mftg PMI reading this should come as no real surprise.
USDINR has a quick shuffle between 63.70-90 after early highs of 64.13
USDINR
