RBI Monetary Policy: Dilemma over status quo, rate hike on as MPC confabulates
The RBI had kept the repo rate unchanged at 6% in its last policy meet, but hinted that it may change its stance based on inflationary risks. RBI executive director Michael Patra was the only member of the six-member panel who voted for a rate hike of 25 bps. The central bank, which had projected a GDP growth of 7.4% for FY19 and inflation at 4.7-5.1% for the first half of this fiscal, will announce the outcome of the MPC meeting on June 6.
The RBI had kept the repo rate unchanged at 6% in its last policy meet, but hinted that it may change its stance based on inflationary risks. Image source: Reuters