The benchmark interest rate in the country will hinge on the future trajectory of inflation, Reserve Bank of India Governor Shaktikanta Das has said, emphasising that month-on-month inflation momentum whether it's building up or moderating I will be key to the central bank's decision-making process.
"It is not so much (about) how the inflation is now; we have to look at for the next six months, for the next one year - what is the outlook on inflation," Das said in an interview with CNBC, as he cited July's revised inflation figure of 3.6 per cent and August's reading of 3.7 per cent. "Therefore, I would like to step back and look at more carefully - what is the future trajectory of inflation and growth. And based on that, we will take a decision." He was replying to a question about when the central bank would start cutting the repo rate.
The RBI increased the repo rate by 250 basis points between May 2022 and February 2023. Since then, the six-member Monetary Policy Committee (MPC) has kept rates and stance unchanged.
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