RBI credit policy: See rate action only in Q1FY13; says I-Pru AMC debt head

Chaitanya Pande, head of fixed income , ICICI Prudential AMC on RBI's mid quarter monetary policy:

In line with expecations, the Reserve Bank of India has maintained a status quo on rates given that it had already just cut CRR on Friday by 75 basis points to address the increase liquidity strain in the market. Additionally, the policy statement has also warned on Inflation re-emerging and being a crucial guidance trigger along with growth. We continue to believe that RBI will initiate rate action only in the first quarter of next fiscal.