RBI unlikely to cut rates in 2024 amid food inflation uncertainty: SBI

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RBI unlikely to cut rates in 2024 amid food inflation uncertainty: SBI - Business Standard

Quick Summary:

The Reserve Bank is unlikely to ease the benchmark policy rate during 2024 given the uncertainty over food inflation, State Bank of India (SBI) chairman C S Setty has said.

While Fed rate cut would influence everyone, RBI would be mindful of the food inflation before taking a call on interest rate cut," Setty, who took over the reins of the bank recently, told PTI in an interview.

The US Federal Reserve's first cut in interest rates in more than four years is expected soon, triggering central banks in other economies to follow suit.