RBI unlikely to ease policy rates in 2024: Axis Bank

December 12, 2023

Axis Bank predicts that the RBI will not reduce rates in 2024 due to volatile food prices and rising global prices. The bank predicts that food inflation will remain volatile, with supply shocks and erratic monsoons contributing to the situation. Despite export restrictions on wheat and rice, rising global prices have affected local prices, increasing the risk of entrenching inflation expectations.

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