
MPC minutes: Members divided on India's economic growth
Monetary Policy Committee's external members cautioned about early signs of a slowdown.
Monetary Policy Committee's external members cautioned about early signs of a slowdown.
Monetary policy should not be conducted by looking at the rear view mirror, says Varma.
With uncertainty looming large, this decision was perfectly timed, says SBI chairman Dinesh Khara
India's economic activity remains resilient, says RBI governor Shaktikanta Das.
CREDAI has urged the RBI to not increase the repo rate any further.
The 25 basis point rate hike approved by the majority of the MPC is not warranted in the current context of diminished inflationary expectations and heightened growth concerns, says Jayanth Varma.
The RBI is widely expected to opt for a lower rate hike of 35-50 bps in interest rates, along with a change in policy stance to “neutral”.
Monetary policy can only hope to address future inflation, not today's inflation, says RBI deputy governor Michael Patra.
The unscheduled meeting on November 3 is only a part of the regulatory obligation, SBI Research says.
Less than a third of the increase in the repo rate during April-August has been transmitted to retail bank deposit rates, says RBI MPC member Jayanth R. Varma.