The Report outlines the motivation behind the MPC’s move to hike rates and change stance. Offering an altered understanding of the policy trajectory vis-a-vis earlier, it hazards the length of the hike cycle. Pointing out the predominantly upward pressure on inflation and growth, it gives a timeline for when the tide could turn on these two variables. Saluting the RBI’s action on the external front, it highlights further pitfalls which await the INR going ahead. Finally, it concludes with a view on bond yields
