RBI to be on a prolonged pause, may cut rates in early 2024: Analysts
The RBI has raised rates by a cumulative 2.50 percentage points since last May before opting for the pause due to persistently high inflation, which has overshot the upper tolerance band of 6 per cent for the bulk of the last year.
The note added that the 4 per cent inflation target is not in sight in the near future, and the RBI will not want to achieve it at the cost of lower growth, Pic- Reuters