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LIVE: RBI Monetary Policy Review Meeting UPDATES – MPC to announce another hike? Outcome Date, Time, Expectations, Latest News Here

dr. Sachchidanand Shukla, Chief Economist of the Mahindra Group

“The MPC will continue to push forward its rate hikes and is likely to raise the repo rate by another 50bp in its forthcoming policy if:

Notwithstanding the fact that Fed interest rates are now the highest since early 2008, the US Fed has hinted that it will continue to raise rates going forward, further tightening global financial conditions and strengthening the USD.

Retail inflation in India has been above the RBI tolerance for eight months and is unlikely to fall before the fourth quarter of FY23. So it remains above the tolerance band for three consecutive quarters, which is considered a failure to meet the inflation target. Moreover, the real policy rate remains in negative territory.

The RBI may revise its growth forecast for FY23 slightly below 7.2%, but leave the inflation forecast unchanged.”

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