The Reserve Bank of India launched two key surveys, the results of which provide “useful inputs” for the central bank’s bi-monthly monetary policy. One of the surveys is to know inflation expectations of households and the other is to gauze the consumer confidence.
Buy Prime Test Series for all Banking, SSC, Insurance & other exams
About The RBI’s Inflation Expectations Survey of Households:
The March 2023 round of Inflation Expectations Survey of Households (IESH), RBI said, aims at capturing subjective assessments on price movements and inflation, based on their individual consumption baskets, across 19 cities.
The cities are: Ahmedabad, Bengaluru, Bhopal, Bhubaneswar, Chandigarh, Chennai, Delhi, Guwahati, Hyderabad, Jaipur, Jammu, Kolkata, Lucknow, Mumbai, Nagpur, Patna, Raipur, Ranchi and Thiruvananthapuram.
The survey seeks qualitative responses from households on price changes (general prices as well as prices of specific product groups) in the three months ahead as well as in the one year ahead period and quantitative responses on current, three months ahead and one year ahead inflation rates.
About The RBI’s Consumer Confidence Survey (CCS):
Consumer confidence study too is conducted in 19 cities. The RBI said results of the surveys provide useful inputs for monetary policy. The next meeting of the RBI’s rate setting panel – Monetary Policy Committee – is scheduled during April 6-8, 2023.
Significance of Consumer Confidence Survey (CCS):
The latest round of Consumer Confidence Survey (CCS) is aimed at gathering qualitative responses from households, regarding their sentiments on general economic situation, employment scenario, price level, households’ income and spending.
You may also read these:
- Bank credit growth slowed to 16.8% in third quarter: RBI
- RBL Bank signs an agreement with Exim Bank for trade finance
Find More News Related to Banking