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ASSOCHAM & EGROW 22nd SMPC on Jun 3, 2022

Recording of the Event
Key Takeaways
  1. Energy prices are likely to remain elevated due to oil and gas market specific factors, particularly sanctions on Russia.
  2. Global slowdown is likely to bring down commodity prices, industrial inputs, and consumer goods.
  3. Inflation is a supply side issue and could be transitory.
  4. Green shoots in post-Covid recovery needs to be supported.
  5. Use of CRR instrument may best be avoided or used later.
  6. Going forward, RBI should target a real Repo rate ranging between-1 and 0.
Recommendation of EGROW Shadow MPC
Members of EGROW – 5

Repo rate

  • Increase by 25 bps - 2
  • Increase by 10-25 bps - 1
  • Increase by 35-40 bps - 1
  • Increase by more than 40 bps - 1

Stance

  • Accommodative to neutral - 5
Non-Members – 3

Repo rate

  • Increase by 20-40 bps - 2
  • Increase by more than 40 bps -1

Stance

  • Accommodative to neutral – 1
  • No stance - 2

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Board of Directors

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