Most of the year so far has been about trying to find policy rate peaks in major developed markets (DMs). Expectations here have been continually frustrated thus far as inflation has proven much more resilient than was being previously .
The policy was along expected lines in terms of action with the MPC delivering a 50 bps hike, taking the repo rate to 5.90 per cent. The recent dissent on stance continued from MPC member Prof Varma. However, there was a new development on one .