MPC Meet: After strong Q2 growth, RBI ups FY24 GDP estimate to 7%
Shaktikanta Das says the October-December quarter growth now seen at 6.5% up from 6% predicted earlier
Shaktikanta Das says the October-December quarter growth now seen at 6.5% up from 6% predicted earlier
Singh, who took over as the Assocham President last week, also said India continues to be a bright spot in the global economy.
It had since gradually reduced by 4.5% in the decade until FY22. But FY23 is seeing a reversal of that trend.
SBI Research expects the peak repo rate in the cycle at 6.25%.
The bond market gave up all their gains after the policy announcement and pushed yields of benchmark 10-year government bonds higher at 7.25%.
HDFC Bank raises MCLRs by 35 bps across all tenors; ICICI Bank says EBLRs hiked by 50 bps to 8.60% per annum from June 8.
We may see highly volatile bond market some rise in bond yields, probably by another 25-30 basis points, says Pankaj Pathak of Quantum Mutual Fund.
This rise in interest rates will ultimately impact overall acquisition cost for homebuyers and dampen sales, says Anuj Puri of ANAROCK Group.
After being sanguine about inflation, out-of-turn MPC meet endorses 40-bps repo rate hike.
While a majority of indices tanked today due to rate hike by RBI, LIC IPO was saved from dampening spirit of the Indian stock markets in the nick of time.