The credit rating agency further anticipated that it expects "two rate cuts this fiscal." It said that the decision of the Monetary Policy Committee (MPC) decision to hold rates in its recent announcement was due to the elevated food inflation.
The climate conditions such as weather events are frequently changing and they need to be monitored. Going ahead, it anticipated that the macroeconomic environment would be better, creating a background for a rate cut. “The food challenge to a rate cut is expected to ease as agriculture prospects look better than last year.
This story is from the August 12, 2024 edition of The Business Guardian.
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This story is from the August 12, 2024 edition of The Business Guardian.
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