RBI Governor: The Reserve Bank of India on Friday released the minutes or details of the meeting of the MPC held from August 3 to 5. It is clear that the Reserve Bank of India Governor Shaktikanta Das had taken a tough stand on the ever-increasing inflation in the country and called it “unacceptable and unsatisfactory”. It is also clear from the minutes of the meeting of the Monetary Policy Committee (MPC) that other members of the MPC also expressed similar views.
Overall rates increased by 1.40 percent in three MPC meetings
In order to bring inflation under control in the country, the Reserve Bank has increased the policy rate i.e. repo by 1.40 percent in three consecutive monetary policy reviews. Explain that the inflation rate has remained above the satisfactory level of the central bank for seven consecutive months. Reserve Bank Governor Shaktikanta Das is also troubled by rising inflation and he keeps on expressing this concern while telling about the MPC of RBI.
What did the RBI governor say?
During the MPC meeting, Shaktikanta Das had said that the policy measures will strengthen the credibility of monetary policy and reduce the fear of inflation. He had said that inflation in the country has remained at a high level and appropriate policy steps are needed to bring it under control in the coming times.
Reserve Bank of India Governor Shaktikanta Das said in the minutes of the MPC meeting published on Friday, “Although inflation has moderated and stabilized since its most recent peak in April 2022, it remains unacceptable and uncomfortably high. Significant uncertainties remain due to geopolitical tensions, volatile global commodity prices and adverse developments coming from the financial markets.
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