This will take the policy rate to 6.25% and the RBI can continue with an open-ended statement, refraining from sounding dovish
Our financial system needs more time for the broad-based transmission of the past concentrated increases in the repo rate (190 basis points in just four months)
Some expect a slight reduction in GDP growth forecast
The meeting was held ahead of the RBI's next monetary policy review, which is scheduled December 5-7
The MER, however, warned that the global macroeconomic situation remained precarious and a recession in many advanced economies would impact India's exports
The GDP numbers for the second quarter of the current financial year are scheduled to be out by this month end
Here is the best of Business Standard's opinion pieces for today
The RBI has already raised rates by 190 bps since May, to 5.90%, as it battles to reign in inflation that has stayed above its 2%-6% tolerance band for ten straight months now.
While you may begin allocating to them, keep some powder dry as rates could rise further
The new PM faces unenviable challenges ahead, but he is a testament to the progress Britain has made towards becoming a multi-racial society
In a highly uncertain global economic environment, realistic growth projections would reduce risks
Business Standard's Veenu Sandhu & Manojit Saha speaks to Prof Douglas Diamond, who won the 2022 Nobel Prize in Economics, on how banks can brace themselves amidst concerns of a recession and more
RBI's monetary policy committee held an off-cycle meeting on Thursday, to discuss the unrelenting inflation and give a response to the govt on it. Why's the RBI is writing to the govt over inflation
The meeting was chaired by RBI Governor Shaktikanta Das and attended by all the other five members of the rate setting panel
Under Section 45ZN of the RBI Act, 1934, the central bank is required to write a letter to the Centre if it fails to maintain the inflation target
In September review, panel talked about aggressive monetary policy actions and stances across the world
For the past few months the MPC's and the governor's conduct has pointed at the war in Ukraine as the main reason for inflation staying above 6 per cent for three consecutive quarters
Shaktikanta Das defends timing of rate hikes amid failure to meet inflation target
Having raised policy rates to about 6 per cent, does India's Monetary Policy Committee need to do more? And, if so, is more front-loading warranted?
CASA occupies a 45% share in overall bank deposits; it is FDs, which make the remaining 55%, which will need the rate adjustment