Manish Wadhawan of HSBC India is expecting to see some stability in rupee and bond markets going forward.
“We expect bond yield to stabilise between 8 percent and 8.15 percent in October-December quarter,” he said.
Talking about RBI’s decision, Wadhawan said, “They have not hiked the rates but they have changed the stance. So it is not something that it has been a dovish policy so one has to take it with a pinch of salt and balanced view.”
“In my view the developments in the credit market of late must have also weighed on the Monetary Policy Committee (MPC) to take this kind of a decision. So that would be important to see how it pans out,” he added.