His remarks come against the backdrop of surges in the monthly inflation rates noted in December and January, which threatened to unleash galloping inflation, which had largely been under control for most of 2020. Between February 2019 and June 2020, when the Reserve Bank introduced the forex au...
The apex bank said hiking the policy rate would result in positive real interest rates that are necessary to drive money market savings. After its last bi-monthly meeting on Thursday, the Monetary Policy Committee (MPC) unanimously agreed to increase the bank policy rate to 60 percent from 40 ...