Hint of hawkishness in RBI's tone on future actions

After a pro-growt h and fiscally conscious budget, the Reserve Bank of India (RBI) has backed the government with a market consensus policy announcement. The monetary policy committee on Wednesday decided to raise policy rates by 25 basis points, in line with market expectations. According to governor Shaktikanta Das, the RBI has three simultaneous targets—to keep inflation expectations anchored; break core inflation persistence; and contain the second-order effects of inflation.

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