RBI hikes rates by 50 bps, warns of a 'Third Storm'
CNBC-TV18’s Latha Venkatesh spoke to an elite panel - B Prasanna, Head, Global Markets Group at ICICI Bank; Dr Samiran Chakraborty, Chief Economist for India at Citi; Mridul Saggar, Fmr Member, MPC; and Dinesh Kumar Khara, Chairman at SBI to discuss how many more rate hikes, also are the GDP forecasts of 7 percent and CPI of 6.7 percent realistic, and more important what is the impact on the real economy.
It was an entirely predictable 50 basis points rate hike from the Reserve Bank of India (RBI) but stocks actually cheered with a 2 percent rally, especially for the Nifty Bank.
So shocking has been the currency market and global turmoil that anything less than 50 may have been a risk both for the market and for the economy. But what next?
The governor absolutely refused to give any guidance. So how many more rate hikes, also are the GDP forecasts of 7 percent and CPI of 6.7 percent realistic, and more importantly what is the impact on the real economy? (How economists are reading the RBI policy)
For all these questions CNBC-TV18's Latha Venkatesh spoke to an elite panel - B Prasanna, head of the global markets group at ICICI Bank; Dr Samiran Chakraborty, chief economist for India at Citi; Mridul Saggar, former member, MPC and Dinesh Kumar Khara, chairman at SBI.
Watch video for more.
First Published: Sept 30, 2022 7:51 PM IST
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