The RBI's Monetary Policy Committee has begun its three-day meeting on Wednesday. The six-member panel is holding deliberations to decide on the interest rates in the country, keeping in mind the inflation and other global factors. The meeting comes at a time when global central banks are tightening the monetary policy and raising interest rates. Suvodeep Rakshit, senior economist at Kotak Institutional Equities, said, "The RBI's deliberations will likely be centered around global monetary policy cycle and outlook for global growth; external sector imbalances manifesting in pressures on the rupee; recent easing of global commodity prices; domestic inflation and growth trajectory… Arguably, the quantum of hike is finely balanced within the 35-50 bps range." The MPC will announce its decision on the last day of its meeting (Friday, August 5). Here're the challenges the MPC faces currently: High Inflation Countries across the globe, including India, have been facing high inflation for a few months on supply chain disruptions due to the Russia-Ukraine war. In India, the inflation in June stood at 7.01 per cent, which was slightly lower than the 7.04 per cent recorded in May but was above the RBI's tolerance limit of 2-6 per cent. According to a… Read full this story
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RBI MPC Meet Begins; Inflation, Global Monetary Policy Cycle, Rupee Centre Of Discussion have 314 words, post on www.news18.com at August 3, 2022. This is cached page on Vietnam Dance. If you want remove this page, please contact us.