India's Central Bank To Support Growth As Inflation Seen Easing: RBI Minutes
NDTV
RBI to support growth as inflation seen easing, the minutes of the latest monetary policy meeting showed.
With economic growth in India having lost some momentum due to a third wave of COVID-19 and with inflation on a downward trend, the country's monetary policy committee chose to retain its policy rate and stance, minutes of its February 10 meeting showed.
"Inflation pressures in India continue to emanate largely from supply side factors, and the recent print also reflects adverse base effects," Reserve Bank of India (RBI) Governor Shaktikanta Das wrote in the minutes published on Thursday.
"The expected moderation in inflation trajectory over the next financial year provides room for monetary policy to remain accommodative. At the same time, economic recovery from the pandemic remains incomplete and uneven and continued support from various policies remains crucial for a sustained recovery."
India's consumer prices rose 6.01 per cent in January compared with the same month last year, compared with a revised 5.66 per cent rise year-on-year in December, boosted by rising costs of food, fuel and household items.
