Reserve Bank of India strikes cautious tone on rates

Quick Summary:

India’s central bank left its benchmark interest rate unchanged as expected, with policymakers worrying that high food prices will continue to keep inflation above its target.

Almost all economists surveyed by Bloomberg predicted the rate would stay on hold for a ninth policy meeting.

As the central bank continues to impose an unwarranted growth sacrifice on the economy, the risk of a deeper slowdown which takes longer to reverse is on the rise,” Bloomberg Economics’ Abhishek Gupta said.

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Article Details

Category: EconomyBusiness

Markets: MalaysiaIndiaNamibiaPhilippinesUnited States

Topics: Inflation Economy MonetaryPolicy IndiaEconomy InterestRates RBI EconomicOutlook /Business/Business News FoodPrices

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-08-09 @ 00:00:00 (11 hours ago)

News Timezone: GMT +8:00

News Source URL: thestar.com.my

Language: English

Article Length: 508 words

Reading Time: 3 minutes read

Sentences: 19 lines

Sentence Length: 27 words per sentence (average)

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Copyright Owner: © The Star

News ID: 21992034

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