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Market participants largely expect the RBI to keep the repo rate unchanged while taking a cautious approach to food inflation. The market is also keen to know about the RBI plan of action to withdraw excess liquidity from the system
"The problem is for you to go much higher, you need the narrative to go much higher and you need new capital to come in," Novogratz told CNBC.
The crypto exchange is attempting to solve its liquidity problems through rvUSD, with withdrawals expected to resume on the platform by June 30.
"Markets may be counting on a 'Goldilocks' scenario, where policymakers tame inflation with limited damage to economic growth," Morgan Stanley's Lisa Shalett said.