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 Indian rupee has appreciated against all major currencies barring the US dollar, says RBI governor.
The unscheduled meeting on November 3 is only a part of the regulatory obligation, SBI Research says.
India's retail inflation rate jumped to 7.4% in September from 7% in the month of August.
The RBI Governor Shaktikanta Das-led MPC is expected to raise the policy rate by another 50 bps to 5.9% as retail inflation remained elevated above the RBI’s threshold of 6%.
RBI to include credit information companies under Reserve Bank-Integrated Ombudsman Scheme; says turnaround time of grievance redress under RB-IOS has declined considerably
Inflation is now projected at 6.7% in 2022-23, with Q1 at 7.5%; Q2 at 7.4%; Q3 at 6.2%; and Q4 at 5.8%
Inflation is likely to remain in the upper tolerance band in the first 3 quarters of FY23, says RBI governor Shaktikanta Das.
The worsening outlook of inflation warrants timely action to forestall second round effects which could lead to unanchoring of inflation expectations, states the RBI governor.
Because of the Russia-Ukraine war, food and beverages, fuel, light and transport alone contributed around a 52% increase in overall inflation since February, says an SBI Research report.
