RBI Governor Raghuram Rajan today kept the key policy rate unchanged citing higher upside risks to 'inflation trajectory' but said the central bank will remain accommodative provided data are supportive.
With global commodities deflation bottoming out, the WPI inflation is likely to see an uptick in the current fiscal and is estimated at 7.1 per cent by March 2017, says a Bank of America Merrill Lynch report.
Wholesale price inflation remained negative for the 17th month in a row in March at -0.85%, though the extent of deflation reduced a bit with some pick-up in prices of both food and manufactured items.
The BSE Sensex surged over 500 points intraday on Wednesday as data showing easing inflation and a government forecast for an above-average monsoon rains sparked hopes for the economy and for more rate cuts by the central ban
RBI Governor Raghuram Rajan led Reserve Bank of India (RBI), in its monetary policy review, on December 1, 2015 had left the key interest rate unchanged following rise in retail inflation. Here are top 5 highlights from the