World Economy

RBI to Maintain Status Quo

RBI to Maintain Status QuoRBI to Maintain Status Quo

With retail inflation showing signs of hardening, Reserve Bank of India Governor Raghuram Rajan may maintain the status quo in the bi-monthly monetary policy review on Tuesday and wait for the impact of delayed monsoon rains before making the next move, say experts, PTI reported. Rajan, criticized for following hawkish monetary policy for too long before starting to lower rates, has reduced the benchmark interest rate by 1.5% since January last year. Since then, he has been persuading banks to fully transmit the benefit of the policy rate cut to customers.