Best viewed on a device with a bigger screen...
The RBI held its main policy rates steady on Friday, but its de facto stance is now clearly "neutral".
Normalisation has begun, in effect, with a narrowing of the interest rate corridor to the pre-Covid width.
The Bank raised its CPI forecast substantially for this FY, but we think it will have to go further.
This publication is only available to Emerging Asia Economic Research (Monitor) subscribers
cpi, disinflation, headline rate, interest rate, June, March, monetary policy, mpc, policy, policy rates, rbi, repo, us, Pantheon Macro, Pantheon Macroeconomics, independent macro research, independent research, ian shepherdson, economic intelligence