RBI´s stimulus: Leaving no stone unturned
(WorldNews Business)

By PRANJUL BHANDARI & AAYUSHI CHAUDHARY In a surprise press conference earlier today, RBI unveiled a detailed stimulus plan, ticking all the three boxes, namely, rates, liquidity, and regulatory easing. It arguably exceeded market expectations, given bond yields rallied by 30-35bps on the short end, and 15bps on the long end after the announcement. Policy repo rate cut by 75bps; effective easing even higher. RBI brought forward its MPC meeting (which was to be held in early-April) and cut the policy repo rate by 75 bps to 4.40%. Four members of the MPC voted for this quantum of cut. The remaining two voted for 50bps easing. The interest rate corridor was widened from...