RBI appropriately tightening monetary policy to fight inflation: IMF
Monetary policy has tightened in India, similar to other emerging markets as well, where inflation has been above target, and certainly inflation has been above the RBI's target recently, so we do expect tightening of monetary policy going forward as well, Tobias Adrian, Financial Counsellor and Director of the Monetary and Capital Markets Department of the IMF said during Global Financial Stability Report press conference. Further, Garcia Pascual, Deputy Division Chief of the Monetary and Capital Markets Department of the IMF reportedly stated that the Reserve Bank of India has appropriately been tightening to fight inflation, inflation being above target; and since May. The RBI delivered 190 basis points rate hikes and we think further tightening is needed to bring inflation to its target, he added.
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