IMF welcomes Indian inflation progress, but RBI should ‘stand ready’

Reserve Bank of India in Mumbai
IMF welcomes progress made with inflation targeting
Photo: RBI

The International Monetary Fund has welcomed the adoption of an inflation-targeting regime in India, while advising the central bank to “stand ready” to tighten monetary policy, should inflationary pressure “gather pace” over the coming year.

Following the IMF’s latest Article IV consultation, published on March 2, fund staff said the regime “provides a robust institutional foundation for maintaining price stability”.

Monetary conditions, they said, remain “consistent” with achieving the Reserve

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