{"id":3776,"date":"2022-12-07T13:00:53","date_gmt":"2022-12-07T07:30:53","guid":{"rendered":"http:\/\/13.235.158.174\/hfc\/?p=3776"},"modified":"2024-05-08T13:09:58","modified_gmt":"2024-05-08T07:39:58","slug":"the-rbi-steps-down-to-a-35-bps-hike-unchanged-stance-suggests-still-hawkish-leaning","status":"publish","type":"post","link":"http:\/\/43.204.86.36\/hi\/the-rbi-steps-down-to-a-35-bps-hike-unchanged-stance-suggests-still-hawkish-leaning\/","title":{"rendered":"The RBI steps down to a 35-bps hike; unchanged stance suggests still hawkish leaning"},"content":{"rendered":"<p>In line with the market consensus, the RBI raised the repo rate by 35 bps to 6.25% and kept the policy stance unchanged to focus on the withdrawal of accommodation indicating further tightening ahead. On the growth front, the central bank revised its projection downwards from 7.0% to 6.8% owing to drags exerted by the external sector. Meanwhile, it retained its headline inflation projection at 6.7% for FY23. Additionally, on the liquidity management front, the governor cautioned the market participants to wean themselves away from liquidity hang. Overall, we assess the tone of today&#8217;s policy meeting to be still leaning towards hawkish. While we retain our view of the terminal rate being close to 6.5% by end of FY23, we do not rule out the possibility of a higher terminal rate in the context of resilient domestic economic activity and indication of higher rates in the developed world.<\/p>","protected":false},"excerpt":{"rendered":"<p>In line with the market consensus, the RBI raised the repo rate by 35 bps to 6.25% and kept the policy stance unchanged to focus on the withdrawal of accommodation indicating further tightening ahead. On the growth front, the central bank revised its projection downwards from 7.0% to 6.8% owing to drags exerted by the [&hellip;]<\/p>","protected":false},"author":1,"featured_media":3707,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[32,6],"tags":[],"class_list":["post-3776","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-rbi-policy-reports","category-research-reports","rbi-policy-reports","research-reports"],"acf":[],"_links":{"self":[{"href":"http:\/\/43.204.86.36\/hi\/wp-json\/wp\/v2\/posts\/3776","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/43.204.86.36\/hi\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/43.204.86.36\/hi\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/43.204.86.36\/hi\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/43.204.86.36\/hi\/wp-json\/wp\/v2\/comments?post=3776"}],"version-history":[{"count":2,"href":"http:\/\/43.204.86.36\/hi\/wp-json\/wp\/v2\/posts\/3776\/revisions"}],"predecessor-version":[{"id":3780,"href":"http:\/\/43.204.86.36\/hi\/wp-json\/wp\/v2\/posts\/3776\/revisions\/3780"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/43.204.86.36\/hi\/wp-json\/wp\/v2\/media\/3707"}],"wp:attachment":[{"href":"http:\/\/43.204.86.36\/hi\/wp-json\/wp\/v2\/media?parent=3776"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/43.204.86.36\/hi\/wp-json\/wp\/v2\/categories?post=3776"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/43.204.86.36\/hi\/wp-json\/wp\/v2\/tags?post=3776"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}