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Timeline
MPCSEP 30, 2022

Rate Hike (+50 bps)

Fourth hike in tightening cycle

NIFTY 50+0.41%vs T-60 baseline
USD / INR+0.11%vs T-60 baseline
INDIA VIX+0.33%vs T-60 baseline
Gilt Fund (10Y proxy)-2.11%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-+1.64%+1.64%+0.41%
USD / INRUSDINR · 1d-+0.06%+0.06%+0.11%
India VIXVIX · 1d--6.24%-6.24%+0.33%
Gilt Fund (10Y proxy)GSEC · 1d--1.18%-1.18%-2.11%