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Timeline
MPCJUN 08, 2022

Rate Hike (+50 bps)

Second hike in tightening cycle

NIFTY 50+0.38%vs T-60 baseline
USD / INR-0.12%vs T-60 baseline
INDIA VIX-6.31%vs T-60 baseline
Gilt Fund (10Y proxy)+1.06%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+50
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--0.37%-0.37%+0.38%
USD / INRUSDINR · 1d--0.19%-0.19%-0.12%
India VIXVIX · 1d--2.89%-2.89%-6.31%
Gilt Fund (10Y proxy)GSEC · 1d-+0.65%+0.65%+1.06%