Shaktikanta Das felt economy needs more monetary stimulus: MPC minutes

Minutes of the meeting show Das felt economy needs more monetary stimulus as inflation outlook remains uncertain

When the Monetary Policy Committee (MPC) members met earlier this month they decided to keep the policy repo rate unchanged as they wanted to maximise the impact of any future rate cuts, show minutes of the meeting.

The MPC, which met on February 4 and announced its decision on February 6, focused on having banks pass on the past rate cuts and letting the economy show signs of improvement following the growth supportive measures of the government.

Unlike the previous policies, the six members of the MPC were not unduly alarmed on the inflation front, and took comfort in the fact that