RBI Monetary Policy: The Reserve Bank of India s Monetary Policy Committee today left interest rate target for the next fiscal year unchanged. India s policymakers implement measures to control inflation through monetary and fiscal interventions, export restrictions, and actions against hoarding. Finance Minister Nirmala Sitharaman recently stated that retail inflation is stable, thanks to government efforts to check price rise in perishable commodities.
RBI Monetary Policy Committee: The Reserve Bank of India s monetary policy panel today XXX India s inflation aim for this fiscal year amid worries for rising food prices and uncertainties around crude prices that have however recently been on a downtrend. Reserve Bank of India s Governor Shaktikanta Das today announced the inflation target during the Monetary Policy Committee s rate announcement. The MPC today also left India s repo rate unchanged for a fifth straight time.
India Food Prices: Nomura predicts India s retail inflation rate may exceed the central bank s 6% tolerance ceiling again due to sticky pulses and cereal prices, leading policymakers to raise the inflation target in August. Nomura expects headline inflation to increase to 6%-6.5% in July and August from June s 4.8%, before settling in the 5%-6% range in the remainder of the fiscal year FY24. Nomura also pushed back the rate cut chances by the RBI s Monetary Policy Committee to February next year.
Nomura predicts India s retail inflation rate may exceed the central bank s 6% tolerance ceiling again due to sticky pulses and cereal prices, leading policymakers to raise the inflation target in August. Nomura expects headline inflation to increase to 6%-6.5% in July and August from June s 4.8%, before settling in the 5%-6% range in the remainder of the fiscal year FY24. Nomura also pushed back the rate cut chances by the RBI s Monetary Policy Committee to February next year.