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Timeline
MPCFEB 07, 2019

Rate Cut (-25 bps)

Sixth bi-monthly 2018-19

NIFTY 50-1.07%vs T-60 baseline
USD / INR-0.26%vs T-60 baseline
INDIA VIX-0.38%vs T-60 baseline
Gilt Fund (10Y proxy)0.00%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 Policycut-25
ConsensusAdjust expected

Macroeconomic Assessment

Dovish shift to stimulate economic activity.

Source: RBI Press Release
Cross-Asset Reaction MatrixExport CSV
Asset ClassT−60T+30T+2HT+1D
Nifty 50NIFTY · 1d-+0.06%+0.06%-1.07%
USD / INRUSDINR · 1d--0.32%-0.32%-0.26%
India VIXVIX · 1d--1.22%-1.22%-0.38%
Gilt Fund (10Y proxy)GSEC · 1d--0.42%-0.42%0.00%