Urjit Patel led RBI cites risk factors, aims to contain inflation
Citing several persisting risk factors, it said, First, crude oil prices continue to be volatile and vulnerable to both upside and downside risks. In particular, while geopolitical tensions and supply disruptions remain an upside risk to oil prices, the fall in global demand due to further intensification of protectionist trade policies could pull down oil prices.
The Reserve Bank of India's Monetary Policy Committee (MPC) today decided to increase the policy repo rate by 25 basis points, reiterating its commitment to achieving the medium-term target for headline inflation. Image source: Reuters