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Rupee Surges And Bond Slashes Higher Following MPC’s Decision

MPC’s decision has begotten positive impact on rupee as well as bond yields.
BY BEx Bureau
Feb 07, 2019

Following the central banks MPC (Monetary Policy Committee) slashed the repo rate, a rise in rupee and a fall bond has been viewed. The rupee has risen by 15 paise whilst bond has decremented by 0.56 per cent. The decision has been taken in the central banks bi-monthly meet.

Prior to MPCs announcement, the rupee has slashed by 20 paise in the morning. The MPC committee led a change in the policy stance as well; the current policy stance is neutral.

In Q3 FY2019, BI shows inflation at 2.4 per cent and 3.2-3.4 per cent in Q1 as well as Q2 FY2019. (Source: ET news)

RBI forecasts that GDP of the financial year 2020 would be 7.4 per cent. It is reckoned that focus on growth and inflation has precipitated a surge in the Indian currency.

Gaurav Dua, who is heading research in Sharekhan, said that The monetary policy support along with the fiscal stimuli of Rs 1 lakh crore in the Union Budget comes as a booster dose for the economy. (Source: ET news)

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