MPC minutes: Rate cut as inflation set to align with target, says RBI Guv

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MPC minutes: Rate cut as inflation set to align with target, says RBI Guv - Business Standard

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Another internal member, Saugata Bhattacharya, said both growth and inflation have moved favourably since the MPC meeting in December."All things considered, I am now cautiously optimistic about the downward trajectory of inflation.

The growth rate for bank credit declined from 15.6 per cent (year-on-year) in December 2023 to 12.4 per cent in December 2024."This puts downward pressure on demand growth for several segments of the economy," Singh said.

Ranjan said that in line with the sequencing path the MPC followed, a policy rate cut in February 2025 is the most rational and appropriate next step, as there is greater confidence in the disinflation path."In line with this prognosis, we also prepared the market by infusing sufficient liquidity for better transmission," Ranjan said.