{"id":162227,"date":"2024-10-26T23:33:14","date_gmt":"2024-10-26T23:33:14","guid":{"rendered":"https:\/\/news.talkwithrattan.com\/index.php\/2024\/10\/26\/inflation-will-begin-to-cool-off-after-october-says-rbi-governor-times-of-india\/"},"modified":"2024-10-26T23:33:14","modified_gmt":"2024-10-26T23:33:14","slug":"inflation-will-begin-to-cool-off-after-october-says-rbi-governor-times-of-india","status":"publish","type":"post","link":"https:\/\/news.talkwithrattan.com\/index.php\/2024\/10\/26\/inflation-will-begin-to-cool-off-after-october-says-rbi-governor-times-of-india\/","title":{"rendered":"Inflation will begin to cool off after October, says RBI governor – Times of India"},"content":{"rendered":"
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MUMBAI: The central bank’s projections indicate that inflation will moderate after remaining high in October, RBI<\/a> governor Shaktikanta Das has said, while cautioning that geopolitical risks and weather events pose potential threats.
“Sept inflation crossed 5%, and we expect October inflation to be high as well. However, our projections indicate that inflation will begin to moderate after October,” said Das during an interaction in Washington on the sidelines of the IMF-World Bank meeting. “Our efforts are not merely to stay within the 2% plus-or-minus band but to align inflation as closely as possible with the 4% target,” he said, and added that the headline inflation trajectory is projected to moderate sequentially from the last quarter of this financial year.
Das was speaking at ‘Macro Week 2024’ organised by Peterson Institute for International Economics. He said resilient growth has given RBI space to focus on inflation to ensure its durable descent to the 4% level, while highlighting that the economy presents a picture of stability and strength, and the balance between inflation and growth is well-posed.
Latest data showed retail inflation, as measured by the consumer price index (CPI), soared to a nine-month high of 5.5% in Sept, largely led by vegetable and some food products and dashing hopes for a cut in interest rates by RBI for now.
Das also called for international caution and consensus on cryptocurrencies given their cross-border nature and warned there would be systemic risks if they are allowed to dominate the financial system. He further said under India’s G20 presidency, there was progress toward an international framework for managing cryptocurrencies. Das said the fact that cryptocurrencies were designed with the intent of operating outside the regulatory framework challenges their suitability as money. <\/div>\n<\/div>\n