Unfair to blame RBI for missing forecast, says Chetan Ahya

He said that a big inflation uptick seems to be improbable

CHETAN AHYA, chief economist and global head of economics at multinational financial services entity Morgan Stanley, answers questions from Anup Roy on the Reserve Bank’s (RBI’s) ongoing review of monetary policy and allied issues. Edited excerpts:

Your (RBI) policy expectation?

We expect the language to turn a bit more hawkish. Growth is improving, oil prices are going up and the central bank needs to indicate that the policy stance would incrementally move towards an eventual rate hike. We don’t expect them to hike rates in this meeting but the possibility increases from here.

RBI’s communication has come under criticism after