Perspective on MPC Announcement by Mr. Nikhil Gupta, Chief Economist, MOFSL Group
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Below the perspective on MPC Announcement by Mr. Nikhil Gupta, Chief Economist, MOFSL Group
The RBI has kept monetary policy unchanged, as broadly expected, with no change in interest rates or policy stance (Both with 5-1 voting.) Further, the Governor again emphasized the importance of achieving a 4% inflation target.
The Bank forecasts real GDP growth at 7% in FY25, with inflation at 4.5% vs. 7% and 5.4%, respectively in FY24. (FY25 growth forecast has been revised up, keeping inflation broadly unchanged.)
Overall, there were no major announcements, hinting at an imminent easing. The RBI has been managing daily liquidity with overnight infusion, as and when required. We don't see easy monetary policy anytime soon, especially with such strong growth.
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