Key Points
A Reserve Bank Bulletin on Thursday said retail inflation has moderated due to monetary policy action and supply side interventions, but we are not out of the woods yet and have miles to go...
An article on the state of the economy in the November Bulletin also noted that the global economy is showing signs of slowing down in the ongoing quarter as manufacturing languishes while services sector activity appears to have reached the end of its post-pandemic expansion...
In India, the momentum of the change in GDP is sequentially expected to be higher in Q3, 2023-24, with festival demand remaining ebullient, the article authored by a team lead by RBI Deputy Governor Michael Debabrata Patra said...
Referring to the headline inflation based on Consumer Price Index (CPI), the article said a combination of monetary policy action and supply side interventions guided inflation down from the high reaches to which it had climbed through the first seven months of 2022-23...
The article further said Indias external sector has remained viable, with a modest Current Account Deficit (CAD) financed by resilient capital flows, one of the least volatile currencies in the world and a healthy level of foreign exchange reserves...
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