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Timeline
MPCJUN 06, 2018

Rate Hike (+25 bps)

Second bi-monthly 2018-19

NIFTY 50+1.65%vs T-60 baseline
USD / INR-0.34%vs T-60 baseline
INDIA VIX-4.05%vs T-60 baseline
Gilt Fund (10Y proxy)-0.95%vs T-60 baseline
Cross-Asset Reaction Window

The 10-year sovereign is shown as a gilt-fund proxy, whose value moves inversely to yields. Older events use daily closes, so the intraday windows then coincide with the daily close.

Surprise Analysis
Surprise DeviationPolicy decision — no numeric surprise

Actual Policyhike+25
ConsensusAdjust expected

Macroeconomic Assessment

Hawkish stance to anchor inflation expectations.

Source: RBI Press Release
Cross-Asset Reaction MatrixExport CSV
Asset ClassT−60T+30T+2HT+1D
Nifty 50NIFTY · 1d-+0.86%+0.86%+1.65%
USD / INRUSDINR · 1d-+0.04%+0.04%-0.34%
India VIXVIX · 1d--5.78%-5.78%-4.05%
Gilt Fund (10Y proxy)GSEC · 1d--0.16%-0.16%-0.95%