RBI continues with gradual monetary tightening
Governor notes continued progress on inflation but core index remains “sticky”
The Reserve Bank of India continued its process of monetary tightening today (February 8), implementing a 25 basis point rate rise as the inflation outlook remains “mixed”.
Four members of the monetary policy committee supported the decision, which took the RBI’s main rate to 6.5%. Two preferred to keep the rate unchanged.
The RBI expects the inflation outlook to continue improving, after inflation dipped back into the target range in November and continued down to 5.7% in December. India
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