The Reserve Bank of India s (RBI) target inflation range has been breached by July s soaring consumer price index (CPI), which hit a 15-month high of 7.44%. Experts have cautioned the rate cut forecast for this fiscal year has now been pushed back, with Rajani Sinha, CareEdge chief economist, expecting the rate to remain high in the near future. Food prices have been blamed for the spike, with pulses and vegetables recording significant inflation.
Analysts see MPC’s communication as “modestly hawkish” and believe that RBI’s future course on monetary policy is likely to take a data dependent course | Latest News India
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