These two members also favoured change in the policy stance from withdrawal of accommodation to neutral. Internal members, however, cited food inflation risk for maintaining the status quo and said the last mile of disinflation has been slow.
"The inertia of inaction should not drive us to action" RAJIV RANJAN Internal member बैंक OF INDIA "Status quoism is praised as being cautious," said Ashima Goyal, one of the external members who voted for a 25 basis points cut to the repo rate and a change in the stance to neutral.
Countering the argument that robust growth gives space for monetary policy to remain tight, Goyal said growth is below potential and may slow further since consumption remains weak.
"Reducing unemployment is important for political and financial stability.
This story is from the June 22, 2024 edition of Business Standard.
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This story is from the June 22, 2024 edition of Business Standard.
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