RBI monetary policy reaction: Deepak Ramaraju, Senior Fund Manager, Shriram AMC

8 Aug 2024 , 12:07 PM

As a fund house, we expected the status quo on the interest rates and the withdrawal of the accommodative stance. Inflation continues to be the number one priority followed by credit growth and deposit mobilization by the banks. RBI continued to keep the inflation forecast for FY 25 at 4.5%. Global factors such as rising interest rates in Japan, geo-political instability in the Middle East, rate cut by the Bank of England and timing of rate cut by the US Fed will influence the future monetary policy stance of RBI.