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Minutes Of Monetary Policy Committee Meeting Held Aug. 4-6 Released

  • Full link to minutes:
  • India MPC'S Varma:
    • Current level of reverse repo rate no longer appropriate
    • Says accommodative stance merits hard look
    • Disagreement with level of reverse repo rate
    • Gradual normalization of width of corridor is warranted
    • Says balance of risk and reward shifting
    • MPC needs to remain data driven to respond rapidly
    • India inflationary pressures signalling persistence (*All BBG)
  • Governor of the Reserve Bank of India Das:
    • Headline inflation will remain within tolerance band (BBG)
    • Remain watchful of any durable inflationary pressures (BBG)
  • Executive director of the RBI Saggar:
    • Policy focus to revive growth needs to continue (BBG)

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