'We expect a hike in deposit rates', says RBI Governor Shaktikanta Das

'With regard to breaching the inflation target framework, we will deal with it as and when the situation arises'

After a surprise rate hike in May in an off-cycle meeting, the six-member monetary policy committee of the Reserve Bank of India (RBI) on Wednesday unanimously voted to increase the benchmark policy rate by 50 basis points, thereby taking the repo rate to 4.9 per cent. After the policy meeting, RBI Governor SHAKTIKANTA DAS, and Deputy Governors MICHAEL PATRA, RAJESHWAR RAO, and T RABI SANKAR spoke to the media. Edited excerpts:

Given that the inflation projection is at 6.7 per cent for 2022-23, will the RBI be aggressive in hiking interest rates?

Shaktikanta Das: Our future action will depend on