Feb rate cut hinges on new RBI leadership, MPC minutes show
Friday, 20 December 2024
In the December MPC meeting, four members opposed policy easing, making a February rate cut uncertain. Outgoing Governor Das and Deputy Governor Patra prioritized controlling inflation over growth, citing concerns about core inflation and second-order effects. Two external members favored rate cuts to address the GDP growth decline, arguing monetary policy's limitations on supply-side inflation.
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