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(M2) Correction Extends


Late Session Rebound


(M2) Corrective Cycle Remains In Play


(M2) Gains Still Considered Corrective

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The RBI kept rates on hold and pledged to maintain an accommodative stance and acknowledged risks from the pandemic. The bank also downgraded growth forecasts by 1ppt to 9.5%, predict FY22 inflation at 5.1%

  • In his speech accompanying the announcement RBI Gov Das said domestic liquidity is accommodative. The RBI plans to conduct an INR 1.2tn GSAP 2.0 in Q2 FY 2022, slightly lower than market expectations of INR 1.25tn. Markets seem broadly happy with the amount, yields lower across the curve.

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