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The Reserve Bank of India (RBI) has repatriated approximately 100 tonnes of gold from the United Kingdom to its vaults in India. The central bank plans to continue this process in the coming months.
Get latest articles and stories on India at LatestLY. For five consecutive policy reviews in 2023, the Reserve Bank of India (RBI) chose to hold rates, citing inflation threat. And when the prices did cool off a bit, it reminded all about the target to get the headline consumer price inflation at 4 per cent and the risks from food inflation. India News | Reserve Bank Continues Battle Against Inflation; All Eyes on Possible Rate Cut in 2024.
For five consecutive policy reviews in 2023, the Reserve Bank of India (RBI) chose to hold rates, citing inflation threat. And when the prices did cool off a bit, it reminded all about the target to get the headline consumer price inflation at 4 per cent and the risks from food inflation. Heading into the new year, all eyes are on when RBI will cut the rates, especially after one of the Monetary Policy Committee (MPC) members stressed on the need for such an action in the face of the US Federal Reserve's guidance for easing rates.
Also, some analysts point to the Consumer Price Inflation (CPI) falling below the 4 per cent mark in mid-2024 and then, there will be prospects of a rate cut.
RBI Governor Shaktikanta Das, who is into the last year of his second three-year term at the helm of the central bank, has been steadfast in highlighting the need to get the inflation down to 4 per cent on a durable basis.