DESPITE 6 STRAIGHT HIKES...No rate pause in sight, bond yields harden
Business Standard|February 09, 2023
Traders of government bonds were not surprised when the announced a sixth consecutive increase in the repo rate on Wednesday. What did dampen the market's spirits, however, was the lack of a concrete sign from the central bank that it would pause rate hikes going ahead. The RBI's Monetary Policy Committee raised the repo rate by 25 basis points to a four-year high of 6.5 per cent on Wednesday.
BHASKAR DUTTA
DESPITE 6 STRAIGHT HIKES...No rate pause in sight, bond yields harden

The size of the rate hike was the smallest in the RBI's current rate-hike cycle, which began in May 2022.

While the slower pace of rate hikes does show the RBI's acknowledgement of inflation having eased back into its tolerance band of 2-6 per cent, the central bank's language on Wednesday showed that it was not taking its foot off the pedal as far as inflation was concerned, particularly core inflation.

This story is from the February 09, 2023 edition of Business Standard.

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This story is from the February 09, 2023 edition of Business Standard.

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