The Reserve Bank of India (RBI) has seen all its forecasts come true on the macroeconomic front. The Reserve Bank of India (RBI) has seen all its forecasts come true on the macroeconomic front. A peek on where policy rates are headed was given by Michael Patra, the executive directly in charge of monetary policy at RBI, in the minutes of the October monetary policy committee meeting. Patra warned that the time has come to be ready to raise the policy rate to quell the underlying drivers of inflation. The budget could well be the wild card that would tilt the monetary policy committee towards a hike.

Source: Mint December 04, 2017 02:26 UTC