Consumer price index-based inflation, the yardstick of the RBI in monetary policy making, was, on average, above 6 per cent during the January-March quarter
Asserts country's fundamentals are strong, govt and RBI will meet challenges with 'flexible and adroit' policymaking
The repo rate before the pandemic came was 5.15%
The RBI today raised the repo rate to 4.9 per cent, up from 4.4 per cent. The Central Bank also raised consumer price (CPI) or retail inflation forecast for FY23 to 6.7 per cent from 5.7 per cent.
Shares of banks and NBFCs seem to be better placed on the charts, while that of automobile, realty and others need to sustain above the crucial levels.
The MPC also decided to remain focused on withdrawal of accommodation to ensure that inflation remains within the target going forward, while supporting growth.
Stocks to Watch Today: Banks and rate sensitive related shares are likely to be in focus today as RBI announces the outcome of its three-day policy meet this morning.
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FY23 inflation projection may go above 6%; liquidity steps anticipated
It's time the central bank talked about 'appropriate' liquidity instead of 'adequate' liquidity
Policy will depend on RBI's inflation projection
Peaking of inflation, analysts believe, could put a cap on bond yields and a floor on equity valuations
Economists expect 40-50 bps hike in repo rate by MPC next month
Says have entered another phase of 'coordinated action' between fiscal and monetary authorities
For the RBI, a correct reading of its mandate would have been that the inflation target is 4%, not 6%. And action to raise interest rates should have begun last year, writes T N Ninan