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Is RBI tightening policy at a time when industrial growth is still weak?

The higher-than-expected inflation is likely to result in another hike in the policy rate at the MPC’s next meeting on 6th-8th June

May 13, 2022 / 08:41 AM IST
Is RBI tightening policy at a time when industrial growth is still weak?

Shaktikanta Das (file photo)

We now know why the Reserve Bank of India’s Monetary Policy Committee found it necessary to call a special meeting on the 2nd to 4th May to hike the policy rate. They knew very well that the April retail inflation print would be far from pleasant. The Governor’s statement on 4th May said, ‘High frequency price indicators for April indicate the persistence of food price pressures. Simultaneously, the direct impact of the increases in domestic pump prices of petroleum...

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