RBI members diverge on further rate hikes as growth risks emerge

The Reserve Bank of India's (RBI) monetary policy committee members have differing opinions on future rate hikes, as per the latest meeting minutes. Some external members have argued that further tightening could hamper the economic recovery, while all three internal members of the RBI have remained focused on risks to inflation. While annual retail inflation is within the RBI's inflation band of 2%-6% for the third straight month, the RBI governor said the fight against inflation is not over, and the committee should undertake a future assessment of the evolving inflation-growth outlook and be ready to act as needed.

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