Not clear why MPC chose 40 bps hike, thankful they didn't go for 37.5 bps, says Jayanth Varma - Moneycontrol

As far as the decision of the MPC to continue with the accommodative stance is concerned, Varma said it would not be wise for the MPC to persist with language that is pedantically correct but falls short in communicative efficacy.

Jayanath R Varma, a member of the monetary policy committee (MPC) didn't understand the logic of majority members voting for a 40 basis point (bps) rate hike, instead of a 50 bps but chose not to dis… [+2376 chars]

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