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MPC turns less hawkish, awaits data, reveal RBI minutes

Govt will post one more inflation data next month before RBI's next policy meeting on August 1-2

Reuters  |  Mumbai 

The Reserve Bank of India's monetary policy committee welcomed data showing inflation easing below its target but wanted more assurance the trend would continue before deciding whether to lower interest rates, minutes from its last meeting showed on Wednesday. The RBI voted 5-1 to keep the repo rate at 6.25 per cent earlier this month, but issued a slightly less hawkish statement after consumer inflation eased to 2.99 per cent in April, below its 4 per cent target. Ravindra H. Dholakia, a professor who is one of three non-RBI members, was the lone dissenter, voting to lower ...

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First Published: Wed, June 21 2017. 18:32 IST