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Inflation targeting to remain work in progress till food prices fall: RBI
The Morning Standard
|June 20, 2024
THE Reserve Bank on Wednesday in its monthly bulletin said the goal of aligning inflation with the target of 4% will remain a work in progress as long as food prices pressure persists.
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After the monetary policy committee was set up, the central bank had set an inflation target of 4%, with a leeway of 2 percentage points on either side. This will be up for review in September 2025.
The article further said though many central banks have pivoted towards a less restrictive monetary policy stance in response to the fall in inflation in their economies, back home inflation still remains above the targeted level mostly because of the food prices.
This story is from the June 20, 2024 edition of The Morning Standard.
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