Quote from Mr. Ganti N Murthy, Head - Fixed Income, IDBI Asset Management Co Ltd on RBI Credit Policy

The quote from Mr. Ganti N Murthy, Head - Fixed Income, IDBI Asset Management Co Ltd:

“As expected the RBI had maintained status quo in its meeting today . This was expected as the RBI had cut the repo rate only 15 days ago and since monetary policy changes take effect with a time lag, we did not expect any change in the key rates today.  Further rate cuts would be data dependent and the next major cues should be taken from  the Budget ( to be presented on the 28^th of this month).  We still maintain our view that inflation would be soft and we can expect further rate cuts during the calendar year of about 50 bps”.