Rbi raises its rates by 50 bps and warns of a “third storm”


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CNBC-TV18’s Latha Venkatesh addressed an elite panel – B Prasanna, Global Markets Group Head at ICICI Bank; Dr. Samiran Chakraborty, chief economist for India at Citi; Mridul Saggar, Fmr Member, MPC; and Dinesh Kumar Khara, Chairman of the SBI to discuss the number of additional rate hikes, the 7% GDP and 6.7% CPI forecasts are also realistic, and more importantly, what is the impact on the real economy.

It was an entirely predictable 50 basis point rate hike from the Reserve Bank of India (RBI), but stocks actually cheered with a 2% rally, especially for the NiftyBank.

The currency market and global turmoil was so shocking that anything below 50 could have posed a risk to both the market and the economy. But what next?

The governor absolutely refused to give advice. So how many more rate hikes, 7% GDP and 6.7% CPI forecasts are realistic, and more importantly, what is the impact on the real economy? (How Economists Read RBI Policy)

For all these questions CNBC-TV18Latha Venkatesh from spoke to an elite panel – B Prasanna, Head of 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 of SBI.

Watch the video to learn more.

First post: STI


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