Radhika Rao of DBS Bank on three #39;Ms#39; of RBI monetary policy
The Reserve Bank of India undertook a well-rounded and calibrated approach on June 4, with the monetary policy committee (MPC) voting unanimously to keep rates on hold, whilst much of the focus, as we expected, was on aspects beyond mainstream rates. We capture the essence of the policy review in three Ms.
Firstly, the economic assessment was marked to Market, as evolving risks of the second wave was captured by a downward revision in growth projections, whilst inflation estimates were dialled up…
