January retail inflation pace drops; RBI could cut rates again
Annual retail inflation in January rose 2.05 percent, its slowest pace since June 2017, government data showed on Tuesday.
In a surprise move on February 7, the Reserve Bank of India's Monetary Policy Committee (MPC) cut the benchmark repo rate 25 basis points to 6.25 percent, in its first cut in 18 months, and hinted of more room to cut rates.
The MPC, which mainly monitors retail inflation data, also revised down its inflation projections for the period from April to September to 3.2 percent to 3.4 percent, from 3.8 percent to 4.2 percent.
Published Date: Feb 13th, 2019 08:51 AM | Updated Date: Feb 13, 2019 08:51 AM IST
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