The benchmark Nifty was hovering around the 5700 mark amid volatility at 10:30 hours. Benchmarks were awaiting the policy announcement from central bank Reserve Bank of India.
Consensus estimates suggest that 25 basis points hike in key rates. Even some experts were expecting hike in the range of 25-50 basis points. However, experts feel that beyond 50 basis points hike in key rates (repo and reverse repo) would trigger sell-off in the market.The Reserve Bank is behind the curve in rate tightening and thus it should raise rate by 50 basis points
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