In the previous meeting in October, the RBI had maintained status quo on rates. Since then, inflation, as measured by the consumer price index, has accelerated to 3.58%, the fastest pace in seven months, because of rising food and fuel prices.
Since October 2017, global economic activity has been gaining momentum through the final quarter of the year, driven mainly by advanced economies (AEs). US growth remained largely resilient to hurricanes and grew at the highest pace in the past three years in Q3 of 2017, with positive contributions from private consumption, investment activity and net exports.
- Dr. Urjit Patel is the 24th Governor of RBI.
- RBI Headquarters in Mumbai.
- The next meeting of the MPC is scheduled on February 6 and 7, 2018.