All eyes on RBI Governor Urjit Patel as the RBI will announce its bi-monthly policy later today. Most participants in the latest CNBC-TV18 poll expect the central bank to cut the repo rate by 25 basis points.
"We are not expecting any action on the rates from RBI, but there is a very strong case for RBI to at least address excess liquidity in the system", Amandeep Chopra, Group President and Head of Fixed Income at UTI MF told CNBC-TV18.
Leading bond fund manager Amandeep Chopra of UTI Mutual Fund believes that the scope for the RBI to slash rates is limited, given a number of global and local factors.
Today's expected trading range for the 10-year benchmark yield would be 6.4-6.5 percent, says Amandeep Chopra, UTI MF.
The Reserve Bank of India (RBI) hiked the cash reserve ratio (CRR), the percentage of cash deposits that banks have to maintain with RBI – at 100% of the deposits (NDTL) accrued between September 16 and November 11 as incremental cash reserve ratio.
RBI will target neutral liquidity through combination of OMOs and forex intervention, said Amandeep Chopra, Group President & Head of Fixed Income, UTI MF.
The only expected trigger is the open market operations (OMO) that the Reserve Bank of India will conduct soon. Till then Amandeep Chopra, Fixed Income Head at UTI Mutual Fund expects markets to remain range-bound.
Investors have taken comfort from the government's focus on inflation. The long-term yields have come off, said Amandeep Chopra of UTI MF, adding that the theme has to be sustained for a longer time.
Markets will be pacified by the Rs 20,000 cr bond buyback announced, says Amandeep Chopra, UTI MF.
UTI MF announces change in fund managers under its schemes with immediate effect.
With CPI numbers behind us and hopes of a rate cut from RBI low, the market lacks an trigger in the coming days. However, onset on monsoon and chances of Fed hike may enthuse participants to take the market higher, says Amandeep Chopra, Group President & Head of Fixed Income, UTI Mutual Fund.
Amandeep Chopra of UTI AMC believes the US Federal Reserve's decision on when to raise rates continues to be the biggest trigger in the immediate term.
UTI MF debt fund manager Amandeep Chopra said that FII inflows into the bond market this year may not be as supportive as last year but added that with the Fed sounding dovish at its recent meeting, prices could be range-bound.
Amandeep Chopra, Group President & Head of Fixed Income at UTI MF, expects bond yield to fall lower and sees January CPI in the range of 5.4-5.7 percent.
Amandeep Chopra, Gropu President and Head - Fixed Income, UTI MF is not looking at over 50 bps rate cut in the next 6 months.
In an interview to CNBC-TV18 Amandeep Chopra of UTI AMC spoke about the banking sector and bonds