The MPC reduced the repo rate by 0.35%. I felt that the repo rate needed to be reduced by 0.5%, but felt the RBI would go for only 0.25%. So happy that I was wrong in my assessment.
RBI's assessment of growth for 2019-20 was marked down marginally to 6.9% from 7%. Inflation forecast for H2 2019-20 also saw a marginal change to 3.5-3.7% from 3.5-3.8%.
