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The Reserve Bank of India’s (RBI) Monetary Policy Committee (MPC) may lower the inflation forecast marginally and will not change the repo rate at the upcoming meeting owing to inflation being down and increased liquidity, said a top economist in Bank of Baroda.
“The MPC will not change the repo rate. The inflation is less than five per cent and will be in the coming months,” Chief Economist Madan Sabnavis, Bank of Baroda told IANS.
The consumer price index (CPI) inflation moderated in April-23 to 4.70 per cent year-on-year (YoY) and remained within the RBI’s target range (2-6 per cent) for the second consecutive month.
Adding further Sabnavis said the liquidity has increased and so the RBI-MPC’s stance will also not change.
According to Sabnavis, the MPC may lower inflation forecast marginally.
–IANS
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(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
First Published: Jun 03 2023 | 2:20 PM IST
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