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RBI’s call: To hike rate or not to hike

DNMUM418079 | 7/13/2018 | Author : Edit | WC :224 | Opinion & Viewpoint

DNA Money Edit

Reserve Bank of India (RBI) will be caught between the devil and the deep sea when the Monetary Policy Committee (MPC) meets on July 31. While the retail inflation and the core inflation are on the rise, the dip in the industrial growth will pose a difficult choice for the committee. Will it find prudent to hike rates to control inflation with the erratic oil prices, or hold rates until growth is more stable?
With the core inflation spiking to 6.4% and retail inflation rising to a five-month high to 5% in June, riding on costlier fuel prices, MPC may just think it would be wise to stay ahead of the curve and hike rates.
There is also an expectation that the hike in the minimum support price (MSP) may further feed into the inflat
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