Ms. Shanti Ekambaram, President – Consumer Banking, Kotak Mahindra Bank“The RBI surprised most market participants today with a “pause” on interest rates as against expectations of a 25 bps repo rate cut. Uncertain global and local factors have prompted this pause, and the RBI will now wait and watch for more trends and data.
Global factors like better growth in the US in the second half, impending Fed rate hike, outcomes of US presidential elections, outflow of funds from Emerging Markets, and local factors like unclear effects of withdrawal of SBN, inflation trajectory, expected volatility in financial markets due to global factors seem to have culminated in RBI’s “wait and watch” stance.”
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