RBI to write to government on inflation after MPC meet

Mumbai, Sep 30 (IANS) The Reserve Bank of India’s (RBI) Monetary Policy Committee (MPC) will meet and decide on the letter that it would write to the government on not meeting the four per cent inflation target, central bank Governor Shaktikanta Das said on Friday.

Queried about the letter that the central bank would write to the government, he said that the MPC will have to meet before penning a letter to the government.

However, he said it is a privileged communication between the RBI and the government, and the RBI will not make the letter public, he said.

Das also said there no legal stipulation on the frequency of the communication between the RBI and the government.

He also said the inflation rate is expected to come down to four per cent in two years time, and there are many uncertainties.

The RBI has pegged the inflation rate at 6.7 per cent for FY23.

–IANS
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