RBI guv to address in view of Fed's possible rate hike
Even as Fed is likely to go for rate hike later during the day, the RBI Governor, Dr Shaktikanta Das will make a statement today at 2 p.m.
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Mumbai, May 04 Even as Fed is likely to go for rate hike later during the day, the RBI Governor, Dr Shaktikanta Das will make a statement today at 2 p.m. in the backdrop of global inflationary concerns posing a challenge for India's recovery.
The address by the governor comes ahead of the US Federal Reserve outcome as it is likely to hike rate to address record inflation in the country. The strengthening of the dollar index has also caused worry as the weak domestic currency could risk higher imported inflation at a time when supply shortages are already putting pressure on the economy.
In spite of maintaining accommodative stance, the RBI in its April policy review had revised the inflation outlook upwards to 5.7 per cent for FY23 and pared the economic growth to 7.2 per cent.
