Rajeev Malik, CLSA Asia-Pacific Markets has expressed his views on RBI Actions and its likely impact on Indian economy. These are free, frank and personal opinion made by the individual. Read the comments below:
Finally the sense I get is people still have this expectation, hope or wishful thinking that somehow RBI is easing is going to turnaround the economy in terms of growth. A lot of people go back to 2008 scenario and think about the aggressive cuts, I think that is unlikely to happen. RBI will not be as aggressive as it was in 2008. This morning we heard comments from the deputy governor to some extent alluding to that. Also, more importantly, this is not predominately a slowdown that RBI’s rate cycle alone can shift. If you go back to the late 1990’s, there was a multi year decline in interest rates. We still didn’t see a turnaround, as far as the investment cycle is concerned, on a sustained basis, until 2002-2003.
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