MPC Review - RBI Remains Accommodative Given Nascent Growth, Elevated Inflation Outlook: Systematix
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Systematix Research Report
In its Monetary Policy Committee review, the Reserve Bank of India remained accommodative and maintained its stance of prioritising durable growth on a sustained basis.
It retained its real gross domestic product projection of 9.5% for FY22 but downsized the projections for the next three quarters of FY22 while enhancing the growth projections for Q1 FYF22.
This indicates the central bank’s skepticism around growth revival despite better rural prospects, buoyant exports and improved government expenditure.
The inflation outlook has been increased by 60 basis points at 5.7% for FY22 as demand-pull pressures have sustained due to the slack in the economy.
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