The current mood among central banks, including the Reserve Bank of India (RBI), seems to be to continue increasing rates till inflation is back in the comfort zone.
According to a Bank of Baroda note, a slew of macro indicators in the US have increased the probability of a higher Federal Reserve rate in the near term.
Core personal consumption expenditure deflator – a measure of the spending on goods and services (excluding food and energy) by people of the United States – rose by 0.6 per cent in January 2023 against an estimated 0.4 per cent on month-on-month (MoM) basis.
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