3 min read.Updated: 06 Dec 2022, 10:38 PM ISTSiddhartha Sanyal
Since Sep MPC, several global commodity prices have shown signs of better stability
Against a tricky global economic and geopolitical backdrop, the monetary policy committee (MPC) in India surprised with larger-than-expected front-loaded rate hikes during the summer. While the cumulative repo rate hike of 190 basis points (bps) just between May and September was unusually fast, the MPC may not have finished rate hikes in the current cycle. However, as the minutes of the previous MPC meeting reveal, while the committee delivered a 50 bps hike in the repo rate in that round, there was a debate internally whether to opt for a smaller quantum of hike in September itself.