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The outlook of RBI in the quarterly review of monetary policy 2012-13 has become slightly benign, according to Shubhada Rao, President and Chief Economist, YES Bank.
She told Business Line over phone from Mumbai that now the stance has been shifted to supporting growth. And it is quite clear in the guidance given by RBI.
“We had anticipated a cut in CRR of 25 basis points with no change in repo rate,” she said.
Rao said: “We maintain our call of 50 bps cut in repo during January to March period. It will be supported in liquidity through open market operations (OMOs) of Rs 80,000-90,000 crore, and with one more likely cut of CRR by 25 basis points.”
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