In its continued effort to tame inflation, the Reserve Bank of India has hiked the repo rate by 50 basis points to 4.90%. This rate hike came in just a month after the central bank hiked the key policy rate by 40 basis points in an off-cycle meet on the 4th of May. Among the key highlights from the policy review was the acceptance that inflation will remain much higher than was previously thought. The RBI now anticipates that CPI inflation will stand at 6.7% in FY23—a percentage point higher than the previous estimate. Meanwhile, the FY23 GDP growth estimate was left unchanged at 7.2%. We decode the implications of the MPC meet on the India Development Debate with Aditi Nayar, Chief Economist, ICRA, Rahul Bajoria, Chief India Economist, Barclays and Madan Sabnavis, Chief Economist, Bank Of Baroda. Tune in!
#RBI #Inflation #IndiaDevelopmentDebate
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