While the central bank’s inflation projection for FY23 was left unchanged at 6.7%, its downgrade of the real GDP growth target to 7% (from 7.2% earlier) was lower than expected (RBI revised its H2FY23 projections upward to 4.6% from around 4% earlier).
Expect a 6.5% terminal rate

The base case is a 35-bps hike in December, followed by a 25-bps hike in February next year

Market Data
Market Data