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Abheek Baruah, Chief Economist, HDFC Bank thinks RBI will scale down the gross domestic product forecast for FY14 between 4.5-5% range.
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By hinting at rate cuts in future and possibility of a rollback of its liquidity-control steps, Reserve Bank governor D Subbarao has managed to put a cap on the bond market yields.
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Abheek Baruah, Chief Economist, HDFC Bank told CNBC-TV18 that the trend is suggesting moderation in Current Account Deficit (CAD) and that moderation will continue through FY14..
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Abheek Baruah, HDFC Bank, says that he expects that RBI will cut rates by 75-100 bps in CY13. He is of the view that RBI will cut rates in January but upside pressures to CPI and fisc deficit will remain. We expect WPI to be between 7-7.2 percent in March.
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In an interview to CNBC-TV18, Abheek Baruah, HDFC Bank, Moses Harding, IndusInd Bank & SS Mundra, ED, Union Bank speak about their expectations from the central bank.
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In its quarterly monetary policy review, the RBI has left the repo rate unchanged and hacked CRR by 25bps. Post the announcement, yields jumped and markets tanked. A host of banking honchos react to the RBI stance and express their fear and desires in this discussion.
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Combating inflation, fiscal deficit and a political deadlock, Indian economy is trapped in a slowdown. So much so that a dismal GDP growth of 5.5% during April-June has only snapped a losing streak that lasted eight consecutive quarters long.
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Abheek Baruah of HDFC Bank says, he is looking at a sizable overshoot in the fiscal deficit. "We are looking at an overshoot, at this stage, to about 5.8-6% of GDP," he adds.
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In another range bound session, the Nifty continued to hold well above 5,400. Confidence returned as investors preferred their 'buy-the-dip' mode. Read on for more...
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It was expected but now it is official. The Reserve Bank of India (RBI) has at last paused in hiking rates in its mid-quarter credit policy review. Experts feel that the central bank is likely to continue its status quo in January too.
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Though the number was below most analyst polls, Gaurav Kapur, senior economist, Royal Bank of Scotland said he was not surprised. "The number is not too way out of our expectations. We were expecting a number of 2.4%."
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On analysis of the RBI's credit policy statement, experts expect to see a pause in rate hikes in December, and a possible year-end target of 7% for inflation.
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Abheek Baruah, chief economist at HDFC Bank said international developments will impinge on our domestic situation and impact the capital availability for India Inc. He feels next fiscal year could be worse than the current one in terms of growth rate.
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Industrial growth has sharply fallen for the month of May. The Index of Industrial Production (IIP) has come in at 5.6% as compared to 6.3% on a month-on-month (MoM), much below expectations of 8.6%, according to a CNBC-TV18 poll.
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According to Jehangir Aziz of JPMorgan, RBI may lose the plot if it does not act aggressively at this point in time. Aziz said though 25 bps is a given, he is hopeful that RBI may deliver 50 bps rate hike.
