In the minutes of the meeting on Wednesday, RBI governor Shaktikanta Das said, "considering the elevated inflation levels, especially the stickiness in core inflation, further calibrated monetary policy action is warranted to contain build-up in underlying inflationary pressures, keep inflation expectations anchored, and bring inflation closer to the target rate of 4% over the medium term."ĭas believes that this would strengthen the medium-term growth prospects of the Indian economy. The next meeting of the MPC is scheduled during September 28-30, 2022. So far in FY23, RBI has hiked the repo rate by 225 bps. Moreover, they became powerful as they were next to the for food, he had a struggle with a. Nearly two-thirds of respondents, 34 of 55, expected the Reserve Bank of India (RBI) to raise rates to a seven-year high. 8 meeting, economists lifted their forecast for the terminal rate from 6.50 expected in a January poll. In December 2022 policy, RBI hiked the repo rate by 35 bps to 6.25%, however, maintained its withdrawal of accommodation stance. To meet their and assured him of a safe stay in the forest. Following higher-than-expected January inflation and after the central bank reiterated its tightening bias at its Feb. He expects another 1.00-1.50 rupee move on the exchange rate against the dollar on the downside. According to IDBI Bank's treasury head, Fed is likely to raise rates to above 5% in 2023, which may force India's central bank to also follow suit.īansal also expects the Indian rupee to remain vulnerable against the US dollar with a possibility of touching fresh lows as the greenback is seen to pick up momentum again. The off-cycle meeting of the central bank's rate-setting panel comes after the RBI failed to keep inflation within 2 percentage points on either side of its 4 target over the medium-term. The Monetary Policy Committee (MPC) meeting is likely to be held between April 3-6.
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