Reserve Bank of India Patel, says next rate move could Be anything, depends on inflation
Reuters with remarks from Reserve Bank of India Governor Urjit Patel:
- Says since we have committed to reach closer to 4pct CPI we needed to look beyond headline inflation
- We also find commodity prices have firmed up globally
- Says given how inflation outlook changes, policy change could be either rate cut, hike or unchanged
- On growth recovery next fiscal year: budget has provided to key sectors which have multiplier effects in rural areas
- Says 7.4 pct growth rate expectation for next fiscal year is highly "respectable"
- Almost everyone agrees impact will be a sharp 'v'
- Private investment demand in second half of this year may be coming up
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