Reserve Bank of India out with latest policy decisions 5 April

  • retains neutral mon pol stance
  • 5/6 MPC members voted for no change
  • Patra voted for hike of 25bps
  • inflation faces various upside risks
  • headline projected range of 4.7-5.1% for H1 2018/19

RBI MPC head Patel says:

  • volatility of oil price among uncertainties to near term inflation
  • could be some risk of fiscal slippage
  • impact of India's farm pricing plan to be clear in a few mths

Rupee making some gains on the announcement

Largely expected but what do our INR traders think of it all ?