Pic courtesy: The New Indian Express
Without giving any forward guidance on policy rates, he said the policy decisions going ahead will be calibrated to the incoming data.
He further said inflation projection is retained at 6.7% for the current year and it is likely to fall to 5% by first quarter of next fiscal year. In the second half of this fiscal year, inflation is likely to remain at 6%, he added.
Das said the MPC is of the view that persistently high inflation necessitates ‘a calibrated withdrawal’, which means that further rate hikes are not ruled out.
Repo is the rate at which the central bank lends short-term funds to banks. One BPS is one-hundredth of a percentage point.
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