RBI: Due to lower inflation and more liquidity, the Reserve Bank of India’s (RBI) Monetary Policy Committee (MPC) may slightly decrease its inflation projection but will not change the repo rate at its upcoming meeting, according to a leading economist at Bank of Baroda.
Inflation Remains Stable and Below 5%: Bank of Baroda Economist’s Outlook
“The repo rate won’t be altered by the MPC. “The inflation is less than 5% and will be in the next months,” said Bank of Baroda Chief Economist Madan Sabnavis. Consumer price index (CPI) inflation moderated in April 23 to 4.70 percent year-over-year (YoY), remaining for the second consecutive month within the RBI’s target range of 2 to 6%.
Bank of Baroda Economist Foresees Potential Cut in Inflation Projection
Additionally, Sabnavis stated that since liquidity has improved, the stance of the RBI-MPC will also not alter. Sabnavis predicts that the MPC may slightly cut the inflation projection.
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