IANS | 04 Jun, 2023
The Reserve Bank of India's (RBI) Monetary Policy Committee (MPC) may
lower the inflation forecast marginally and will not change the repo
rate at the upcoming meeting owing to inflation being down and increased
liquidity, said a top economist in Bank of Baroda.
"The
MPC will not change the repo rate. The inflation is less than five per
cent and will be in the coming months," Chief Economist Madan Sabnavis,
Bank of Baroda told IANS.
The consumer price index (CPI)
inflation moderated in April-23 to 4.70 per cent year-on-year (YoY) and
remained within the RBI's target range (2-6 per cent) for the second
consecutive month.
Adding further Sabnavis said the liquidity has increased and so the RBI-MPC's stance will also not change.
According to Sabnavis, the MPC may lower inflation forecast marginally.
