RBI Cuts The Repo Rate By 25 bps
DSIJ Intelligence / 19 Mar 2013
Though RBI has cut the repo rate by 25 bps, its hawkish stance has disappointed the markets.
As expected the RBI has cut the Repo rate by 25 basis points to 7.5%. However, its hawkish stance has disappointed the market. According to the RBI there is limited headroom for further rate cuts in the remainder of the year. It has also said that inflation will remain range bound around the current levels for FY14.The bank has further reiterated worries on the current account deficit front saying that it is above the sustainable threshold.
The market had largely discounted the 25 bps of repo rate cut and hence there is not much that will guide the market.
More to follow...
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