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Minutes Release Shows Board's Intent to Continue Accommodation Withdrawal

RBI

Full document here: https://rbidocs.rbi.org.in/rdocs/PressRelease/PDFs...

Highlights:

  • The MPC also decided to remain focused on withdrawal of accommodation to ensure that inflation remains within the target going forward, while supporting growth.
  • High frequency indicators suggest that economic activity has remained strong in Q3 and Q4:2022-23.
  • Capacity utilisation in manufacturing is now above its long period average
No immediate response noted across INR forwards, with the 1m outright close to the highs of the day at 83.04.

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