RBI likely to maintain hawkish stance, keep rates unchanged in near-term as core inflation eases to 43-month low
Bank of India (RBI) is likely to maintain its hawkish stance on interest rates at its upcoming meeting. India retail inflation softened to a five-month low at 4.87 per cent in October, compared to 5.02 per cent in September, according to data released by the Ministry of Statistics on November 13.
Majority of economists expected CPI inflation to come in the range of 4.7 - 4.9 per cent on a sustained decline in vegetable prices. However, the most encouraging data for analysts was that core inflation eased to a 43-month low of 4.3 per cent.
An important development for the conduct of the central bank's monetary policy is the stabilizing of core inflation, which also reflects a broad-based easing of price pressures across goods and services. MORE TO COMEMilestone Alert!
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