The RBI’s Monetary Policy Committee (MPC) is divided, yet united. During its meeting early this month, the country’s six chief inflation-nutters unanimously agreed to keep repo rate unchanged at 5.15 per cent, but differed if growth revival from here on needs a monetary or fiscal push.
While the MPC broadly believes it has policy headroom, three members expect structural reforms to aid recovery before they can take the pedal off policy rates. In essence, as Michael Patra observed, the panel ‘entered a tunnel of testing trade-offs’ (inflation vs growth) and ‘the light at the end of it won’t be seen for some time to come’.
Diese Geschichte stammt aus der February 21, 2020-Ausgabe von The New Indian Express Chennai.
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Diese Geschichte stammt aus der February 21, 2020-Ausgabe von The New Indian Express Chennai.
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