RBI MPC reaction : While the RBI did sound a note of optimism in terms of what the future holds for India says Shlok Srivastav, Appreciate
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Below the Quote On RBI MPC reaction by Mr. Shlok Srivastav, Co-founder & COO, Appreciate
“While the RBI did sound a note of optimism in terms of what the future holds for India, overall, it’s clear that the current uncertainty in the global environment is weighing on it quite heavily. Nevertheless, its prognosis that September inflation is likely to be lower is good news, as is its affirmed alertness when it comes to handling inflation expectations.
The RBI is undoubtedly going to need a fair amount of time to bring the inflation rate back to the ideal band. Global macro factors will play a key role in determining the timeline for this. However, for now, its maintenance of the retail inflation rate at 5.4% for 2023-24 looks like a positive sign. In addition, the 5.8% YoY rise in remittances in Q1 FY24 and the decline in the current account deficit to 1.1% of GDP are also heartening.
As usual, the market will be looking to the RBI’s upcoming guidance for more specific cues.”
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