Quote on RBI Monetary Policy Committee meeting by Sunil Damnia, CIO, MojoPMS
Below the Quote on RBI Monetary Policy Committee meeting by Sunil Damnia, CIO, MojoPMS
Statements from central banks have gained heightened importance following Japan's interest rate hike, with significant attention on the Federal Reserve's potential acceleration of rate cuts in the United States. Considering the global context, along with the higher base effect and favourable monsoon conditions, it would have been prudent for the Reserve Bank of India (RBI) to cut interest rates in the latest monetary policy. However, the RBI opted to maintain the status quo to safeguard the rupee, which has recently faced downward pressure. The RBI's retention of GDP growth and inflation projections for FY2025 is reassuring.
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