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Timeline
MPCDEC 07, 2022

Rate Hike (+35 bps)

Fifth hike; pace moderation

NIFTY 50-0.18%vs T-60 baseline
USD / INR+0.43%vs T-60 baseline
INDIA VIX-4.56%vs T-60 baseline
Gilt Fund (10Y proxy)-1.66%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+35
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--0.44%-0.44%-0.18%
USD / INRUSDINR · 1d-+0.58%+0.58%+0.43%
India VIXVIX · 1d-+0.28%+0.28%-4.56%
Gilt Fund (10Y proxy)GSEC · 1d--0.88%-0.88%-1.66%