Bumps ahead for bull run

RBI cut its median projections for gross value added growth for FY18 to 6.7% from 7.3%

The Monetary Policy Committee's (MPC's) decision to leave policy rates unchanged was expected. The Reserve Bank of India (RBI) cut its median projections for gross value added growth for 2017-18 to 6.7 per cent from 7.3 per cent. It expects inflation to range between 4.2 and 4.6 per cent in the second half of the fiscal. Upside risks to inflation include farm loan waivers and possible pay hikes to state government employees.

The central bank is a little apprehensive that inflation might overshoot. What's more, there's worry about currency turmoil. The dollar is weakening, the euro is zooming up, the yen