The Monetary Policy Committee (MPC) meets in a context of shifting sands -- growth is not as bad as the RBI thought. GDP at -7.5 percent versus the -9.8 percent the last MPC had gone with, but the October inflation at 7 percent is way higher than the MPC’s mandate.
Arguably, even more important, in the money market, yields on Treasury Bill (T-Bill) and some commercial papers (CPs) are even below the reverse repo rate. So what should the RBI and the Monetary Policy Committee do when they meet on December 4?
CNBC-TV18's Citizens' MPC -- Pronab Sen, Former Chief Statistician, Sonal Varma, Chief Economist- India & Asia Ex-Japan at Nomura Financial Advisory & Securities, Soumya Kanti Ghosh, Group Chief Economic Advisor at State Bank of India, Sajjid Chinoy, Chief India Economist at JPMorgan and Samiran Chakraborty, Chief Economist at Citi -- meets to explain the macros, pulls and pressures and tell us how the policy may evolve.
For entire discussion, watch video