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Early pivot unlikely in the face of persistent inflation: UTI AMC's Chopra

"Credit funds have performed quite well in 2022, on the back of an improving economic cycle, low-interest rates, and easing liquidity as domestic and global economies opened up"

Abhishek Kumar

Premium

Mr Amandeep Chopra - Group President & Head of Fixed Income at UTI AMC

4 min read Last Updated : Jan 30 2023 | 6:10 AM IST

Rate cuts are unlikely in 2023 as inflation appears to be more persistent this time, believes Amandeep Chopra, group president and head-fixed income, UTI Asset Management Company. In conversation with Abhishek Kumar, Chopra says rate cuts can be a possibility this year only if inflation dips below 5 per cent and the economic growth rate weakens to sub-5 per cent. Edited excerpts:

The rate-hike cycle is expected to end soon. What will be your strategy?

The thing to look out for this year is how long central banks keep rates unchanged once they achieve the terminal policy rate. Also, what markets are pricing in as regards the next phase of the rate cycle. The headline inflation rate has started to come down, but there are concerns about sticky core inflation.