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Ahead of its bi-monthly monetary policy review, the Reserve Bank of India (RBI) accepted 23,855 crore worth of bids in its bond buyback, 95% of the notified amount. Despite the acceptance, market enthusiasm was muted compared to January's exercises.
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India is likely to increase bond buybacks and switches to longer maturities this fiscal year to lower its combined fiscal deficit, aiming for sovereign rating upgrades that have remained unchanged for nearly two decades. Economists suggest that maintaining the fiscal gap below 7% of GDP is crucial for rating agencies to consider an upgrade, with the government budgeting 2.
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News and Media
With future price pressures appearing benign and credit demand subdued, some economists are advocating for an outsized 50-basis-point rate cut by the Monetary Policy Committee (MPC). This move aims to revive the credit cycle and boost economic momentum, potentially counterbalancing uncertainty.
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News and Media
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