India keeps markets guessing over MPC members

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Times of India 3h ago

India keeps markets guessing over MPC members - Times of India

Quick Summary:

The Reserve Bank of India is approaching a crucial interest rate decision with uncertainty looming as the contracts of three external members of its monetary policy committee expire on October 4.

The delay in appointing new members could affect policy continuity and market stability, raising concerns among analysts and financial experts.

Urjit Patel, who was RBI governor before Das took over in December 2018, was a policy hawk, rejecting calls to cut interest rates even when inflation tumbled to a record low of 1.46% in June 2017.