In May, when the Reserve Bank of India (RBI) went for an out-of-turn policy rate cut for the second time in a row, paring its policy repo rate to a historic low of 4 per cent, the equity market gave it a thumbs-down and bond prices rose marginally. On Thursday, the RBI refrained from a rate cut but the equity market cheered the policy; the bond prices dropped but there was no big selloff.
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First Published: Fri, August 07 2020. 00:07 IST