RBI minutes: ‘abrupt’ retreat of inflation calls for caution
MPC members express surprise at swift retreat of food prices
The Reserve Bank of India’s (RBI) latest monetary policy decision was coloured by the “abrupt and significant retreat of inflation” in April, according to the minutes from that meeting, published on June 21.
The monetary policy committee’s (MPC) forecasts had assumed “fire sales” of several food items would die down in April, but were caught out by unexpectedly low inflation, deputy governor Viral Acharya says in his statement. He recommends the committee watch incoming data closely before
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