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Timeline
MPCAUG 01, 2018

Rate Hike (+25 bps)

Third bi-monthly 2018-19

NIFTY 50-0.98%vs T-60 baseline
USD / INR-0.55%vs T-60 baseline
INDIA VIX+0.64%vs T-60 baseline
Gilt Fund (10Y proxy)-1.01%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--0.09%-0.09%-0.98%
USD / INRUSDINR · 1d--0.27%-0.27%-0.55%
India VIXVIX · 1d-+0.40%+0.40%+0.64%
Gilt Fund (10Y proxy)GSEC · 1d--0.35%-0.35%-1.01%