The monetary policy acts with lags, it may take 3-4 quarters for the policy rate to be transmitted to the real economy, and the peak effect may take as long as 5-6 quarters, said Dhiraj Relli of HDFC Securities.
Sunil Shankar Matkar
February 08, 2023 / 01:33 PM IST
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} The Monetary Policy Committee of the Reserve Bank of India on February 8 raised the repo rate by 25 bps to 6.5 percent with a 4:2 majority.India’s headline inflation, excluding vegetables, has been rising well above the upper tolerance band and may remain elevated, especially with high core inflation pressures, though the consumer price inflation eased for the third straight month in December.The rate hike decision was as per the most of expectations by market participants. The January CPI inflation is scheduled to be announced on February 14.According to the MPC, inflation remains a major risk to the outlook. Hence, the rate-setting panel is of the view that further calibrated monetary policy action is warranted to keep inflation expectations anchored, break core inflation persistence and thereby strengthen medium-term growth prospects.
