“Given the recent favourable macroeconomic conditions, the RBI has understandably maintained its position and stayed firm on our expectation in terms of interest rates. The neutral stance can also be attributed to stable commodity and oil prices, expectations of a normal monsoon, a favourable GST and the overall strengthening of the rupee, which has eased the overall inflation. Despite the announcement, we believe that the recent rate cuts by financial institutions will benefit customers and positively impact sectors like auto, white goods and housing.”