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Timeline
MPCAPR 09, 2025

Rate Cut (-25 bps)

Unanimous cut; stance shifted to accommodative

NIFTY 50+1.30%vs T-60 baseline
USD / INR+0.21%vs T-60 baseline
INDIA VIX-1.61%vs T-60 baseline
Gilt Fund (10Y proxy)+0.45%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--0.61%-0.61%+1.30%
USD / INRUSDINR · 1d-+0.47%+0.47%+0.21%
India VIXVIX · 1d-+4.84%+4.84%-1.61%
Gilt Fund (10Y proxy)GSEC · 1d-+1.20%+1.20%+0.45%