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RBI monetary policy review on Tuesday: Raghuram Rajan to go for interest rate hike, or not, top 5 key takeaways

Mon February 01 2016, 10:20 am
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    With the Reserve Bank of India's (RBI) last monetary policy review of this fiscal coming up on Tuesday, analysts have reacted as to which way they expect the Governor Raghuram Rajan to go in terms of an interest rates hike. The bank last cut its short term lending rate in September by 50 basis points to 6.75 percent. In 2015, RBI reduced its repo rate cumulatively by 1.25 percent. The RBI review is expected to direct the Indian equity markets in the upcoming week. Here are top 5 points to note:(AP)

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    1. Citigroup: Considering the near-term risks on CPI (consumer price index) inflation and the uncertainties around FY17 Budget, we expect the RBI to leave rates unchanged until the budget on February 29. India's CPI, or retail, inflation has been rising. As per data released earlier this month, annual retail inflation moved up further to 5.61 percent in December, from 5.41 percent during the month before. (AP)

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    2. Citigroup: The Reserve Bank of India is likely go for a post-budget easing of 0.25 percent in March or April 2016.(AP)

  • sensex, nifty, RBI, rbi review, rbi monetary policy, rbi monetary policy review, rbi repo cut, rbi interest rate, Raghuram Rajan, Raghuram Rajan news, Raghuram Rajan policy, Raghuram Rajan speech, rbi policy review, Raghuram Rajan rbi policy

    At 12.03 pm, Sensex was up 103 points at 24,928. Punjab National Bank (up 2.61 per cent) and Bank of Baroda (2.45 per cent) were among top gainers in the Nifty 50 index. Nifty was up 16.50 points at 7,572 (AP)

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    4. HSBC: The current instability in markets and insufficient transmission are reasons why the RBI may not rush to cut the rate on February 2. (AP)

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    Budget 2016: "My sense is that there is a 20-30 basis points slippage coming in the fiscal deficit number, so basically I'm expecting a 3.7 or 3.8 percent fiscal deficit number for 2017," said Ritika Mankar Mukherjee, senior economist at Ambit Capital. Subramanian's cautious advice to raise the deficit has been rejected by central bank governor Raghuram Rajan, who argues that India should keep its powder dry in case the weakening world economy tips into recession. Indian bonds, shares and the rupee gained on a view that the government was at least not throwing fiscal caution to the winds. (AP)

  1. R
    rohan
    Feb 1, 2016 at 7:06 am
    If he doesn't hike the Interest rate, he will be failing as a professional .
    Reply

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