MPC Review- An Unexpectedly Dovish Monetary Policy: Motilal Oswal
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Motilal Oswal Report
The Monetary Policy Committee resolution has come on expected lines with the policy repo rate unchanged at 4%.
The reverse repo and Marginal Standing Facility rates were also kept unchanged at 3.35% and 4.25%, respectively.
Besides the decision on rates, all MPC members voted unanimously to continue with the accommodative stance as long as necessary.
Reserve Bank of India also kept its gross domestic product growth forecast unchanged at 10.5% (lower than market consensus of 11%) and revised inflation projections only marginally up to ~5% for FY22 (higher than the market consensus of 4.75%).
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