: Inflation ‘unacceptably and uncomfortably’ high: Paper #finance #StockMarketNEWS #Business RBI Governor states that policy measures to remain calibrated, measured Mumbai: With the price
Inflation ‘unacceptably and uncomfortably’ high: Paper #finance #StockMarketNEWS #Business
RBI Governor states that policy measures to remain calibrated, measured
Mumbai: With the price situation remaining at “unacceptably and uncomfortably? high level, members of the RBI’s Monetary Policy Committee underlined the need for preventing upward drift of inflation and bringing it down to the target band, as per minutes of its recent
policy meeting.
Reserve Bank Governor Shaktikanta Das said the policy actions of the central bank “would continue to be calibrated, measured and nimble depending upon the unfolding dynamics of inflation and economic activity. ?
Das, according to the minutes of the MPC meeting released on Friday, said retail inflation was “unacceptably and uncomfortably? high, as he along with other members proposed a 50 basis points hike in repo rate at the last policy review with a view to preventing its upward drift from the target.
The sequence of policy measures, Das said, “is expected to strengthen monetary policy credibility and anchor inflation expectations. Our actions would continue to be calibrated, measured and nimble depending upon the unfolding dynamics of inflation and
economic activity. ?
Frontloading of monetary policy actions, opined RBI Deputy Governor Michael Debabrata Patra, “can keep inflation expectations firmly anchored, re-align inflation with the target and reduce the medium-term growth sacrifice as it is timed into the recovery underway. ?
The CPI inflation was at 7. 01% in June and eased to 6. 71% in July. The data for August is scheduled to be released by the National Statistical Office (NSO) on September 12.
Governor Das further said the RBI’s measures are tailored towards first bringing the CPI inflation within the target band and then taking it close to the target of 4% over the medium term, while supporting growth.
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