It is almost given that the Monetary Policy Committee (MPC) will signal a slower pace of tightening at its upcoming review, as downside risks to growth outweigh the upside risks to inflation. But more consequential will be what the Reserve Bank of India says about the pace of tightening from there.
Since the last policy review on September 30, the economic landscape has changed in many ways. Outlook for the global economy has further soured due to the ongoing war in Ukraine and the months of disruptive Covid-19 lockdowns in China. Many parts of the world, especially European nations, are
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