Page 12 - Monetary Policy Committee

Core inflation must ease towards 4%, says RBI MPC's Shashanka Bhide

"High core inflation also points to the cost-price nexus in the economy more sharply," Bhide said, adding that stabilizing core prices was necessary for manufacturing firms to expand their capacities

India's economic growth appears to be very fragile: RBI MPC member Varma

India's economic growth appears to be 'very fragile' and it may fall short of what the country needs to meet the aspirations of its growing workforce, RBI Monetary Policy Committee (MPC) member Jayanth R Varma said on Sunday. In India, Varma said he expects inflation to remain high in 2022-23 but come down significantly in 2023-24. "However, growth appears to be very fragile, and monetary tightening is compressing demand," he told PTI. Explaining further, he said rising EMI payments increases the pressure on household budgets and dampens spending, and exports are struggling in the face of global factors. While noting that high interest rates make private capital investment more difficult, Varma said the government is in fiscal consolidation mode, thus reducing the support to the economy from this source. "Because of all these factors, I fear that growth may fall short of what we need to meet the aspirations of our growing workforce given our demographic context and income level,"

Further tightening could push growth down to 5%: MPC member Ashima Goyal

Continuing to raise nominal repo rates until core inflation falls could imply an overshooting or excess tightening of real rates, says the MPC member in an interview with Business Standard

Pass-through of fall in commodity prices not clear: RBI MPC's Bhide

'In the past two meetings, the size of the rate increases have come down'

Real interest rate of about 1% appropriate for Indian economy: Ashima Goyal

"You don't need to keep on raising nominal rates as long as inflation does not come down because then you will definitely overshoot in terms of real rates," Goyal said

Monetary policy stance must remain disinflationary, says RBI report

Says GDP growth will receive 15 bps boost from tax cuts

SBI loans to get costlier as bank hikes key lending rate; Details here

Following the RBI MPC's repo rate hike earlier this month, many banks like Bank of Baroda, Bank of India, and Punjab National Bank have also hiked their key lending rates

MPC meet: No change in stance, RBI hints at more policy rate hikes

Policy rate increased by 25 bps to a 4-year high of 6.5%

Moderation of pace of rate hikes gives RBI room to assess impact: Das

Central bank management speaks to the media about inflation, economy and government borrowing

RBI to launch pilot project for QR-based coin vending machines in 12 cities

These vending machines will dispense coins against a debit to the customer's account. The process will use Unified Payments Interface (UPI) instead of physical tendering of notes

RBI MPC increases repo rate by 25 bps, pegs FY24 inflation at 5.3%

Need to see decisive decline in inflation, core inflation still sticky, says RBI governor

RBI MPC: When and where to watch policy announcement by Shaktikanta Das

RBI monetary policy: In December, Das had said that despite consecutive rate hikes, core inflation had continued to remain 'sticky'

RBI Monetary Policy: One last rate hike now but signaling close to the peak

Inflation remains sticky and most G-10 central banks may in any case, continue with rate hikes; given India's resilient growth momentum, the MPC might increase the repo rate one final time

Monetary policy making: 2022 was year of reset, 2023 could be a long pause

25 bps raise likely in Feb, before RBI hits status quo button, feel experts

India to face export shocks from global recession: BFSI economists' panel

While two of the eminent panelists - Ghosh and Nayar - said they expect a pause in the monetary cycle by the MPC, Chakraborty, Sagar, and Kapoor said the MPC could still hike by 25-50 basis points

MPC members voice different views on interest rate and stance: RBI minutes

Governor Das said due to persistent core inflation, there is no room for complacency and the battle against inflation is not over

BS BFSI Insight Summit 2022: Fireside chat with RBI Guv Shaktikanta Das

Das as the RBI Governor is widely credited with having spearheaded RBI's proactive approach in handling the economic impact of the Covid-19 pandemic with 'whatever it takes' approach

BS BFSI Insight Summit 2022: Leading economists to discuss recession fears

From Aditi Nayar the Chief Economist at ICRA to Mridul Saggar, professor of practice, IIM Kozhikode; formerly MPC Member and RBI ED, here is the full list of economists on BFSI panel

HDFC raises home loan rates by 35 bps, effective from December 20

With this rate hike, HDFC has now passed on the entire rate hike done by the six-member monetary policy committee (MPC) of the Reserve Bank of India (RBI) to the borrowers

Axis Bank hikes MCLR by 30 bps across the board, effective December 17

This comes after RBI's monetary policy committee raised repo rate by 35 bps earlier this month to take it to 6.25%