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Monetary Policy Committee minutes came as a bit of surprise, says HSBC

Updated : April 20, 2018 09:23:17 IST

The Monetary Policy in June will see one more vote in favour of a rate hike, that of Reserve Bank of India (RBI) deputy governor Viral Acharya.

Manish Wadhawan, MD & Head-Fixed Income Global Markets at HSBC said MPC minutes came as a bit of surprise to the market because the tone of the policy and the details in the MPC minutes were different.

He further said that the biggest cue came from Viral Acharya’s comment regarding withdrawal of accommodation.

Talking about expectations from June policy, he said, “Now the expectation turns far more hawkish whether they deliver or not.”
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