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Quote on RBI Monetary Policy from Mr. Arun Kumar, Head of Research, FundsIndia

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“RBI’s rate hike of 50 bps to take the repo rate to 5.90% was in line with market expectations. Given the aggressive rate hiking cycle by the US Fed, the low spread between Indian and US bond yields, and the strengthening USD, we expect RBI to do one more rate hike of 25-35 bps in December to take the repo rate close to 6.25%.

Thereafter, we expect a pause, and the future trajectory will depend on incremental macro data.”

By Mr. Arun Kumar, Head of Research, FundsIndia

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