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Front-loaded rate hikes reduce need for action later, says RBI deputy governor Patra

MUMBAI: Reserve Bank of India deputy governor Michael Patra said that the front-loading of interest rate hikes to tame inflation will reduce the need for subsequent increases. In the near term, however, he said the inflation trajectory depends on geopolitical developments, global commodity prices, and global financial market developments. “Our role has undergone a transformation …

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CAD of 2.5-3% can be sustained without external sector crisis: RBI DG Patra

India can tolerate a Current Account Deficit (CAD)of 2.5-3.0 per cent of GDP without experiencing an external sector crisis, Reserve Bank of India Deputy Governor Michael Patra said on Saturday. “In a telling reminder of this fact, a record increase in oil prices and high gold imports took the current account …

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