RBI’s pause in policy repo rate is a welcome move: FICCI
Commenting on RBI’s Monetary Policy Statement Mr Subhrakant Panda, President, FICCI said, “The pause in policy repo rate by RBI is a welcome move given the evolving macro-economic and financial markets scenario. The renewed phase of turbulence that Central Banks are grappling with globally given developments in the banking sector, geo-politics and slowdown in growth & trade flows warranted a prudent response which RBI has delivered.”
“While the Indian economy is showing signs of resilience with growth being broad based, the outlook globally is somewhat uncertain. RBI’s measured stance articulated today is appropriate as earlier rate hikes are still flowing through the system, and inflation is projected to trend downwards, albeit slowly; any further hike in the policy rate at this juncture would have affected growth, which must be the priority while keeping a close watch on the inflation trajectory,” added Mr Panda.