RBI may keep rates status quo as scenario turns favourable

The Reserve Bank of India’s upcoming June 6-8 MPC meeting may result in a pause in policy measures in light of the positive economic data. April’s retail inflation rate hit an 18-month low, while GDP growth was 7.2% in FY23, a whole percentage point higher than expected. While the Indian Meteorological Department predicts a normal monsoon season, El Nino could still spark temporary food shortages. Despite inflation rates being under control, the RBI has warned the war against inflation is not over.