RBI likely to focus on non-rate steps to fight rising inflation

RBI likely to focus on non-rate steps to fight rising inflation

Mumbai: The Reserve Bank of India is likely to deploy non-interest rate measures to ensure that its action of raising borrowing costs by 250 basis points since May 2022 is fully passed on to borrowers to combat rising inflation. A big chunk of the increase is yet to be passed on.The transmission of policy rates … Read more

Services activity contracts for 3rd straight month amid Covid-fuelled uncertainty, inflation and financial concerns

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India’s services activity contracted — though at a slower pace — for the third consecutive month in July, due to subdued demand conditions amid the coronavirus pandemic and local restrictions, a private survey showed on Wednesday. “July data was somewhat disappointing, with incoming new business and output falling solidly over the month, but there was … Read more

March wholesale inflation up to 8-year high of 7.39%

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The wholesale inflation rate rose to a more than eight-year high of 7.39% in March, official data released on Thursday showed, on the back of increased prices of crude oil, petroleum goods and basic metals. A low base effect also contributed to the spike – wholesale inflation was 0.42% in March last year. This is … Read more