In this episode of the Perspective Prog. based on ‘Managing Inflation’. Based on the assessment of the current and evolving macroeconomic situation, RBI’s Monetary Policy Committee earlier this week decided to increase the policy repo rate under the liquidity adjustment facility by 40 basis points to 4.40 per cent with immediate effect. The MPC also decided to remain accommodative while focusing on withdrawal of accommodation to ensure that inflation remains within the target going forward, while supporting growth. The US central bank has also announced its biggest interest rate increase in more than two decades as it toughens its fight rising prices. Bank of England has also raised interest rates to their highest level in 13 years in a bid to tackle soaring inflation. Meanwhile International Monetary Fund (IMF) has revised down its forecast of global output growth for 2022 by 0.8 percentage point to 3.6 per cent, in a span of less than three months. The World Trade Organization has also scaled down projection of world trade growth for 2022 by 1.7 percentage points to 3.0 percent.
1. A.K. Bhattacharya, Editorial Director, Business Standard
2. Prof. Arvind Mohan, Department of Economics,University of Lucknow
3. Atanu Chakraborty, Chairperson HDFC Bank & Former Secretary, Ministry of Finance
Anchor: Vishal Dahiya
Producer: Sagheer Ahmad
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