Niranjan Hiranandani, managing director of Hiranandani Group, said the RBI had to ensure that inflationary pressure on the individual did not get exacerbated by higher rates on home loans
The bond markets also saw a sell-off, and the yield on the 10-year government bond rose to 7.37 per cent, hitting a three-year high
Consumer price index (CPI)-based inflation rate rose to 6.95 per cent in March 2022 from 6.07 per cent in the previous month
The MPC has focused on preventing inflationary expectations from un-anchoring in an increasingly uncertain environment.
In the last policy meeting in April, the monetary policy committee (MPC) of the RBI had shifted its focus to tackle the rising inflation in India after the Russian invasion of Ukraine
The central bank earlier this month started to move away from its ultra-loose monetary policy.
Nearly 7% retail inflation in March may spur policy tightening
That it's not far away is a reality, and the Indian central bank is not in denial mode. Despite the rate not being increased, formally, there couldn't have been a more hawkish policy last week
RBI Governor Shaktikanta Das said the RBI actions on KYC rules have to be in consonance with the Prevention of Money Laundering Act (PMLA)
Real action only after policy rate revision
The projection on inflation is based on the assumption of international crude oil prices of the Indian basket remaining at $100 billion a barrel
'For a majority of population and age groups, uncertainty in inflation expectations increased for both three-month and one-year horizons, as compared to the previous survey round' the RBI said
It is also expected to help in softening the blow from hardening bond yields, bankers and analysts said
Sets stage for rate hikes after June policy amid high oil prices, yields
CLOSING BELL: The RBI also announced revised inflation and GDP growth forecasts in-line with market expectations
Next RBI monetary policy stance likely to be followed by shallow rate hike cycle, with the repo rate being increased by 25 bps each in August and September 2022.
RBI Monetary policy LIVE updates: As expected by market participants, RBI retained status quo on key interest rates. Governor Shaktikanta Das said. "Approach needs to cautious, but proactive". Stay tu
In its first monetary policy announcement of 2022-23, the RBI projected inflation to be at 5.7 per cent this financial year. Real GDP growth for the year estimated at 7.2 per cent
On Thursday, overseas investors sold shares worth Rs 5,009 crore, while domestic institutions invested Rs 1,775 crore
Inflation is soaring, but the RBI had refrained from raising interest rates. Will this week's policy meeting be any different? Find out what the markets expect from governor Shaktikanta Das