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Status quo on rate, but will the stance change?

We have come to the end of the rate-hike cycle. The speculation is on the timing of the first rate cut. It won't happen anytime soon

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RBI Governor Shaktikanta Das

7 min read Last Updated : Jun 04 2023 | 2:30 PM IST

In May 2022, Reserve Bank of India (RBI) Governor Shaktikanta Das said in an interview that expectations of a rate hike in the next policy meeting were a no-brainer since inflation was a major area of concern even as economic recovery was steady and gaining traction.

This was weeks after the first rate hike in the current round, from 4 per cent to 4.40 per cent, in an off-cycle meeting of the Monetary Policy Committee (MPC). It happened barely 12 hours before the US Federal Reserve raised its policy rate by 50 basis points (bps), the highest in 22 years,

Disclaimer: These are personal views of the writer. They do not necessarily reflect the opinion of www-business-standard-com-nalsar.knimbus.com or the Business Standard newspaper

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