Momentum of inflation on downward slope: RBI Governor

TIL Desk/Business/Mumbai/ The Reserve Bank of India Governor Shaktikanta Das on Monday said that the “momentum of inflation is on a downward slope” and the central bank would continue to strike a delicate balance between the need to contain price rise and ensure economic growth. The Reserve Bank’s inflation projections, Das said, are “robust” but contingent on downside and upside risks associated with the movement of global crude oil prices.

The RBI takes into account a particular range within which crude prices are expected to fluctuate considering all the factors that can be anticipated and that can be sort of foreseen as of today, he said.

He was responding to questions after the meeting of the RBI’s Central Board of Directors. The meeting was addressed by Finance Minister Nirmala Sitharaman.”… Our inflation projections… I would say it is quite robust and we stand by it.

“If there is something of course totally unforeseen and you know, which nobody can expect that is different and we have said that it is contingent on you know the risk the downside or the upside risk to these projections is the crude prices,” the Governor added.