RBI's Monetary Policy Statement August 5, 2022

RBI's Monetary Policy Statement https://m.rbi.org.in/Scripts/BS_PressReleaseDisplay.aspx?prid=54148 Media Response : M G Warrier August 5, 2022 Market welcomes RBI's perceptions There were no surprises in the Monetary Policy announcement by RBI* on August 5, 2022. Base Rate hike didn't cross expected levels. Greeting the country on the occasion of Amrit Mahotsav of independence, RBI Governor could comfort the stakeholders that inflation is under control and he doesn't expect any need to revise the upper limit of target. RBI prediction is that 6 plus level may not last much longer. The market accepted the RBI stance with cheer and signalled happiness by a quick upward trend in Sensex. Discounting the possibility of being cautious in the context of the mood of Amrit Mahotsav celebration across the country, let's believe the worst is over and we are back on track on the growth path. It's soothing to find that RBI's GDP growth projections remain intact. M G Warrier Mumbai

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