RBI is likely to keep repo rate at current level for extended period

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The Bond markets were visibly disappointed after the RBI’s monetary policy meeting

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RBI will shift its policy stance from ‘withdrawal of accommodation to neutral

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The repo rate now stands at 6.5%. Going by the RBI estimates

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This translates to current real policy rate at 80bps. Moreover

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It seemed safe to assume that this will be the last hike in the current rate hike cycle

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The RBI kept doors open for more rate hikes citing the concerns regarding sticky core inflation

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And maintained its stance to ‘withdrawal of accommodation

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