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INDIA: RBI Governor Cautious on Inflation.

INDIA
  • RBI Governor Das aired is concerns as to the potential for an inflation surprise going forward during an interview with the Business Standard Newspaper (as per BBG).
  • “We have to be very cautious in our future course of action,” he said.
  • Das went on to effectively pave the way for a change in stance by the RBI at the next meeting, without the need to cut rates saying “A change in stance doesn’t mean the next step is a rate cut in the very next meeting.”
  • The Central Bank has received criticism for sticking to the RBI’s forecast for GDP growth of +7.2% despite the headwinds of softer consumption and activity in urban areas.
  • Gas described a rate cut at this stage for the Indian economy as ‘risky’.
  • The RBI meets next month for their final monetary policy meeting for the year where no change to policy is expected.
  • Using the MIPR function on BBG shows that current market pricing is consistent with no change, and one cut is priced in for 2025. 
IndiaGlobalEM BulletBulletAPACEmerging Market NewsRegion
IndiaGlobalEM BulletBulletAPACEmerging Market NewsRegion

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