RBI governor Shaktikanta Das against pausing rate hikes: MPC minutes

MPC minutes show Das saying that in a tightening cycle, especially in a world of high uncertainty, giving out explicit forward guidance on the future path of monetary policy would be counterproductive

Given the "uncertain outlook", the Reserve Bank of India (RBI) governor Shaktikanta Das during the Monetary Policy Committee (MPC) meeting between December 5 and 7, was of the view that rate hikes should continue in India.

"I am...of the view that a premature pause in monetary policy action would be a costly policy error at this juncture. Given the uncertain outlook, it may engender a situation where we may find ourselves striving to do a catch-up through stronger policy actions in the subsequent meetings to ward off accentuated inflationary pressures," said Das, as per the minutes of the Monetary Policy