Decrease in industrial production in March; Rbi could trade inflation worries for growth fears
RBI Governor Das said April inflation at 4.7% indicates that monetary policy is on track. However, the governor may be much happier with the March IIP of 1.1% announced today. This indicator of industrial production is surprising in the end.
“With April inflation at 4.7%, I and my colleagues at the Reserve Bank can confidently say that monetary policy is on the right track,” the governor said today. RBI, Shaktikanta Das.
The RBI-MPC seems to have found an opportune moment for a break in the rate hike cycle, so there is reason to note the governor’s April CPI reading at a 19-month low.
However, the governor may be much happier with the March IIP of 1.1% announced today. This indicator of industrial production is surprising in the end.
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