
On May 4, the Reserve Bank of India (RBI) decided to raise the benchmark interest rate by 0.4 percentage points to 4.4%. Over the past few months, there has been a growing clamour to raise rates, mixed with anxiety over retail inflation exceeding the central bank’s tolerance limit of 6% for three months running. The surprise to the markets was in the timing of RBI’s move, via an off-cycle meeting of the Monetary Policy Committee (MPC). In a discussion moderated by K. Bharat Kumar, Shubhada Rao and U.R. Bhat discuss whether the RBI delayed the rate hike. (Read More)
Be the first to comment