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RBI's 3-day monetary policy meet to start today; all eyes on rate hike stance
Updated On: 05 December, 2022 09:07 AM IST | New Delhi | ANI
Under the flexible inflation targeting framework introduced in 2016, the RBI is deemed to have failed in managing price rises if the CPI-based inflation is outside the 2-6 per cent range for three quarters in a row.
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The Reserve Bank of India`s three-day monetary policy committee meeting is set to commence today. Financial markets will be keenly watching the committee`s rate hike stance if any, as inflation is still above the 6 per cent target band.
The central bank had already hiked the key policy rate by 190 basis points since May to 5.9 per cent to cool off domestic retail inflation that has stayed above the RBI`s upper tolerance limit for over three quarters now. In October, retail inflation was 6.77 per cent as against 7.41 per cent the previous month.
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