BQ Prime's special research section collates quality and in-depth equity and economy research reports from across India's top brokerages, asset managers and research agencies. These reports offer BQ Prime's subscribers an opportunity to expand their understanding of companies, sectors and the economy.
ICICI Securities Report
The Reserve Bank of India raised the policy repo rate by 40 basis points, effectively reversing its similar-sized rate cut of May 22, 2020. The market was surprised, as the hike occurred at an unscheduled meeting of its monetary policy committee four weeks after its last meeting, and five weeks prior to its next scheduled one.
A deterioration in the near-term inflation outlook was to blame, with crude-oil still elevated and palm oil at all-time highs. The deterioration in the geopolitical outlook will delay new supplies of oil/gas, thereby obliging the RBI to raise rates a further 75 basis points by September 2022.
This will be bad for rate-sensitives, but we expect domestic demand to gain momentum in H2 FY23, from the export-led strength in H1.
Click on the attachment to read the full report:
DISCLAIMER
This report is authored by an external party. BQ Prime does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BQ Prime.
Users have no license to copy, modify, or distribute the content without permission of the Original Owner.
Essential Business Intelligence, Sharp Market Insights, Practical Personal Finance Advice, Daily Fuel, Gold and Silver Prices and Latest Stories — On NDTV Profit.
