RBI's New MPC Members - More Neutral Than Dovish; Cautious Camp To Prevail: Nirmal Bang

NDTV Profit’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer NDTV Profit’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..Nirmal Bang Report.The government has appointed three new external members to the Monetary Policy Committee of the Reserve Bank of India for a period of four years. This is particularly important as the two external members Dr. Ashima Goyal and Prof. Jayanth Varma had adopted a dovish tone, voting for a change in stance and rate cuts. The three new external members are Prof. Ram Singh, Director, Delhi School of Economics, University of Delhi; Saugata Bhattacharya , Senior Fellow Centre for Policy Research and former Chief Economist at Axis Bank and Dr. Nagesh Kumar, Director and Chief Executive, Institute for Studies in Industrial Development. All three externally appointed members are distinguished in their own right with Prof. Ram Singh specialising in public economics and contract theory, Saugata Bhattacharya in Banking and financial markets and Dr. Nagesh Kumar in industrial policy, regional integration and international trade and development, having served at the United Nations Economic and Social Commission for Asia and the Pacific). However, apart from Saugata Bhattacharya who has a background in the financial sector and was part of the RBI’s Working Group on Monetary Policy (2010), there is no stated view on monetary policy. In our view, the external members are likely to adopt a neutral stance, at least initially. We see increasing probability of RBI shifting stance to neutral at the October meeting (with a 50 basis points rate cut from the Fed ) which also increases the probability of a rate cut in December-24 against our base case of a rate cut in Feb-25. In the near term, inflation is likely to inch up in Sep-24, even as we see signs of cyclical moderation in growth..Click on the attachment to read the full report:.Thangamayil Jewellery - Steady As A Rock: HDFC Securities.DISCLAIMERThis report is authored by an external party. NDTV Profit does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of NDTV Profit..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

RBI's New MPC Members - More Neutral Than Dovish; Cautious Camp To Prevail: Nirmal Bang

The three new external members are Prof. Ram Singh, Saugata Bhattacharya and Dr. Nagesh Kumar.

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RBI's New MPC Members - More Neutral Than Dovish; Cautious Camp To Prevail: Nirmal Bang

The three new external members are Prof. Ram Singh, Saugata Bhattacharya and Dr. Nagesh Kumar.

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