Monetary policy ought to remain actively disinflationary: RBI governor Shaktikanta Das
The Hindu
Reserve Bank of India (RBI) governor Shaktikanta Das on October 20 stressed that the monetary policy must remain actively disinflationary to ensure that the decline in inflation from its peak of 7.44% in July continues smoothly.
Reserve Bank of India (RBI) governor Shaktikanta Das on October 20 stressed that the monetary policy must remain actively disinflationary to ensure that the decline in inflation from its peak of 7.44% in July continues smoothly.
Addressing the Kautilya Economic Conclave 2023, he also said price stability and financial stability complement each other and it has been an endeavour at RBI to manage both efficiently.
Retail inflation declined to a three-month low of 5.02% annually in September on account of moderation in vegetables and fuel prices, and was back within the Reserve Bank's comfort level.
The inflation based on Consumer Price Index (CPI) was 6.83% in August and 7.41% in September 2022. In July, inflation touched a peak of 7.44%.
The Reserve Bank has raised the key policy rate (repo) by 250 basis points since May 2022 to tame inflation. However, it pressed the pause button on rate hike in February this year.
"We have maintained a pause on policy rate. So far 250 basis points rate hike is still working through the financial system. We have also appropriately fine-tuned our communication to ensure a successful transmission of the interest rate hikes," the governor said.
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