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Timeline
MPCOCT 04, 2019

Rate Cut (-25 bps)

Fourth bi-monthly 2019-20

NIFTY 50-1.66%vs T-60 baseline
USD / INR-0.46%vs T-60 baseline
INDIA VIX+0.73%vs T-60 baseline
Gilt Fund (10Y proxy)+0.48%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--1.23%-1.23%-1.66%
USD / INRUSDINR · 1d--0.17%-0.17%-0.46%
India VIXVIX · 1d--0.68%-0.68%+0.73%
Gilt Fund (10Y proxy)GSEC · 1d--0.60%-0.60%+0.48%