"If there is robust economic growth, then we would like to accelerate the (inflation) reduction to 4%. But if the economy is struggling, then a slower pace of adjustment would be appropriate," Monetary Policy Committee (MPC) member J.R. Varma said. The central bank raised its key policy repo rate by 50 basis points (bps) in August to 5.40%, taking the total rises since May to 140 bps. Its next policy decision is due on September 30.
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