Given the "uncertain outlook", the Reserve Bank of India (RBI) governor Shaktikanta Das during the Monetary Policy Committee (MPC) meeting between December 5 and 7, was of the view that rate hikes should continue in India.
"I am...of the view that a premature pause in monetary policy action would be a costly policy error at this juncture. Given the uncertain outlook, it may engender a situation where we may find ourselves striving to do a catch-up through stronger policy actions in the subsequent meetings to ward off accentuated inflationary pressures," said Das, as per the minutes of the Monetary Policy