Yet again, the Reserve Bank of India (RBI) has raised the policy rate by 50 basis points (bps) to 5.9 per cent, pared the growth projection for FY2023 from 7.2 per cent to 7 per cent, and left the inflation estimate for the year unchanged in its latest monetary policy. One bps is a hundredth of a percentage point.
The stance of the policy continues to be “withdrawal of accommodation, while supporting growth”.
Everything is on expected lines. Both bond and equity markets cheered RBI Governor Shaktikanta Das’s no-surprise policy. This is how a stock broker sums it up: After
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