Only time will tell how long interest rate will remain high, says RBI governor Shaktikanta Das
RBI governor Shaktikanta Das has stated that interest rates are likely to remain high for the time being. The RBI has cumulatively raised the key policy rate by 250 basis points since May 2022 to control inflation, which reached 7.44% in July. However, retail inflation has since declined to 5%. Das emphasized the need for a sustained decline in inflation and stated that the RBI is ready to take necessary actions.
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