 "RBI, Reserve Bank of India")
It is clear that the “off-cycle” decision by the RBI’s monetary policy committee to raise the repo rate and make other adjustments to money supply has been prompted by the uncomfortable trajectory of inflation. But this fact was well known at the time of the April meeting, so what stopped the MPC then is a puzzle. Had the RBI accounted for consistent inflationary pressures and maintained the needed balance between the objectives of supporting growth and maintaining price stability, it would have avoided an emergency rate hike, the top edit argues. Read it here
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