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Timeline
MPCFEB 07, 2025

Rate Cut (-25 bps)

First cut since 2020; softening inflation

NIFTY 50-0.94%vs T-60 baseline
USD / INR+0.20%vs T-60 baseline
INDIA VIX+1.90%vs T-60 baseline
Gilt Fund (10Y proxy)+0.36%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--0.18%-0.18%-0.94%
USD / INRUSDINR · 1d-+0.29%+0.29%+0.20%
India VIXVIX · 1d--3.46%-3.46%+1.90%
Gilt Fund (10Y proxy)GSEC · 1d-+0.36%+0.36%+0.36%