Expectations are that the MPC will continue to vote for higher interest rates in its next two meetings in September and December taking the Reserve Bank of India’s (RBI) benchmark repo rate at least 50 basis points higher from the current 5.40%. One basis point is 0.01%.
The move has come after the price of tur and urad saw a sharp jump in prices this week. The prices of the two commodities
Analysts at Goldman Sachs India in a report on Friday said the headline inflation will average 5.3 per cent this year, which is within the
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