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Hopeful monetary actions needed are moderate vs peers: RBI deputy governor Michael Patra

Michael Patra said internal research has showed that growth is unambiguously impaired when inflation exceeds 6% and with core measures of inflation showing signs of generalisation, monetary action is certainly warranted.

June 24, 2022 / 12:33 PM IST

Reserve bank of India (RBI) is hopeful that required monetary policy actions will be more moderate than in the rest of the world and there are indications that inflation is peaking, deputy governor Michael Patra said in a speech on Friday.

Patra said internal research has showed that growth is unambiguously impaired when inflation exceeds 6% and with core measures of inflation showing signs of generalisation, monetary action is certainly warranted.

Patra was speaking at an event organised by the PHD Chamber of Commerce and Industry.
Reuters
first published: Jun 24, 2022 12:33 pm
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