Vande Bharat Train Update: Retail inflation rate in the country is still very high. Its impact will be felt on the decisions of the central bank's Monetary Policy Committee (MPC), which will meet early next month. The bi-monthly meeting of MPC will be held on October 13-15.

Inflation effects and dollar effects

To curb retail inflation, the Reserve Bank of India had increased repo rates by a total of 2.50 percent last year. However, the country's inflation rate is still very high. In addition, the policies of the Federal Reserve System, the central bank of the United States, also influence economies around the world.
To reduce inflation in America, the Federal Reserve increased interest rates. We have decided to take a tough stance in future. This affects the flow of capital across the world. And India is also not untouched by this.

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What do experts think?

According to PTI news, Bank of Baroda Chief Economist Madan Sabnavis said that RBI has no plans to change interest rates this time too. Inflation remains high. But these are also very challenging times at the cash flow level.

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Madan Sabnavis also mentioned the seasonal conditions. He said there is uncertainty regarding the production and prices of Kharif crops, especially pulses. This also affects inflation. If we look at the current retail inflation rate, it was 6.83% in August. However, in July it was 7.44%. In both cases, the RBI's maximum rate was more than 6%.

Superfast News Coverage By YuvaPatrkaar.com Team

Publish Date: October 10, 2023

Posted By Sunil

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