RBI Monetary Policy Committee members express concerns over inflation at MPC meet
Zee News
Das-headed Monetary Policy Committee (MPC) had unanimously decided to keep the borrowing costs unchanged at a record low for the 11th time.
New Delhi: All the six members of the RBI's rate setting panel expressed concern over inflation and Governor Shaktikanta Das stressed that the central bank will have to constantly re-assess the "dynamic and fast changing situation" and tailor its actions accordingly, as per the minutes of the recent MPC meeting released on Friday.
Das-headed Monetary Policy Committee (MPC), which held its meeting from April 6-8, unanimously decided to keep the borrowing costs unchanged at a record low for the 11th time in a row in a bid to continue supporting economic growth despite inflation edging higher, especially in the wake of the Russia-Ukraine conflict.
The central bank's MPC has six members, including the governor.
Das opined that the current geopolitical situation has led to an upward revision of RBI's inflation projections for 2022-23, and the estimates now point to inflation remaining above the upper tolerance band in the near-term even as growth projections have undergone downward revisions.
"The circumstances warrant prioritising inflation and anchoring of inflation expectations in the sequence of objectives to safeguard macroeconomic and financial stability, while being mindful of the ongoing growth recovery," he said, as per the minutes.
