The better than expected WPI and CPI data increase the scope for a rate cut by RBI in the upcoming Credit Policy, says Ashutosh Raina, HDFC Bank.
Ashutosh Raina, HDFC Bank said, "The market is keenly awaiting the outcome of FOMC meeting later this week. Markets expect Fed to keep rates on hold in this meeting in the face of global growth concerns. The USD-INR pair continues to trade in the 66-66.50/USD range and should continue to trade this range till some clarity on policy action from central banks."
He further said, "The better than expected WPI and CPI data increase the scope for a rate cut by RBI in the upcoming Credit Policy. The rate cut expectations have kept the bonds well bid. The 10-year benchmark yields continue to hover in the 7.70-7.80% range."The Great Diwali Discount!
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