RBI is expected to keep its repo rate unchanged in its second bi-monthly monetary policy for FY24 and focus on the impact of the recent rate hike cycle. Currently, the policy repo rate is at 6.50%.
Trading in the Indian market will be closed on April 14 on the occasion of Dr Baba Saheb Ambedkar Jayanti.Last week, Sensex gained by at least 841.5 points or 1.4%, while Nifty 50 also rallied by more than 239 points or 1.4%.
Is the central bank giving undue weightage to considerations outside its legal mandate, such as maintaining the least possible interest rate differential with the US?