ASSOCHAM & EGROW 22nd SMPC on Jun 3, 2022
- Energy prices are likely to remain elevated due to oil and gas market specific factors, particularly sanctions on Russia.
- Global slowdown is likely to bring down commodity prices, industrial inputs, and consumer goods.
- Inflation is a supply side issue and could be transitory.
- Green shoots in post-Covid recovery needs to be supported.
- Use of CRR instrument may best be avoided or used later.
- Going forward, RBI should target a real Repo rate ranging between-1 and 0.
Recommendation of EGROW Shadow MPC
Members of EGROW – 5
- Increase by 25 bps - 2
- Increase by 10-25 bps - 1
- Increase by 35-40 bps - 1
- Increase by more than 40 bps - 1
- Accommodative to neutral - 5
Non-Members – 3
- Increase by 20-40 bps - 2
- Increase by more than 40 bps -1
- Accommodative to neutral – 1
- No stance - 2
News & Articles
India sees a second chance to pivot to the Indo-Pacific in new group that excludes China