A majority of members of India's monetary policy committee (MPC) see space to cut interest rates further to boost economic growth, but the timing of any cuts would be critical, minutes of the February MPC meeting released on Thursday showed. The MPC kept rates on hold as expected on Feb. 6 while also retaining its accommodative monetary policy stance as long as it was necessary to revive growth. The committee cut rates by 135 bps in five moves in 2019, aiming to boost growth which is expected to fall to a more than decade low of 5% in 2019/20. In a note accompanying the ...
RBI monetary policy committee torn between growth concerns, inflation fears
The MPC is mandated to keep inflation in a range of between 2% and 6% and recent data showed the retail inflation rate in January climbing to a more than six-year high of 7.59%