A sizeable cut now looks on the cards, the question is whether it will be large enough to offset the demand destruction caused by the impending economic downturn.
Turkey's monetary policymakers are bucking the global trend of the central banks raising interest rates to combat inflation, as high borrowing rates cool down the economy and prices.
Inflation may fall to 5.2 per cent next fiscal on normal rains, ease in supplies sans shocks: RBI report
The world has already witnessed two major shocks of the pandemic and the Ukrainian situation and a third shock comes in the form of aggressive monetary policy actions by central banks globally.
In the UK a meltdown in the pension funds following a crash in the value of bonds forced the Bank of England to fork out 65 billion pounds.
Speaking at the annual day function of regulator IBBI, Sitharaman, who is also the corporate affairs minister, said: "We are in an era of robust economic activities".
The falling rupee hurts credibility and slows investment, it gives a fillip to inflationary conditions at the macro level and is a burden on wallets at the micro level.
"In the last two and a half years, the world has witnessed two major shocks-- the Covid-19 pandemic and the conflict in Ukraine. These shocks have produced profound impact on the global economy."
Food inflation stood at 6.46 per cent against 5.96 per cent in the previous month (July 2022) and 4.83 per cent during the corresponding month (August 2021) a year ago.
Uday Bhanu Chib, president J-K Youth Congress said ,the BJP government should not to take the people of Jammu and Kashmir for granted and restore the statehood to J-K without wasting time.
This is the seventh rate increase undertaken by HDFC in the last five months.
RBI says letter to govt on missing inflation target will be privileged communication; not to be made public
The RBI has to write a letter explaining the reasons for missing the target and charting out details on when it is likely to achieve the target of 4 per cent.
The grim outlook for growth is being driven in part by high inflation, which has triggered sharp monetary tightening across many economies.
An SBI research report said the Indian markets have, however, performed much better. Specifically, the rupee has been holding remarkably well with RBI intervention supporting it in the market.
The British pound fell to a record low against the U.S. dollar of $1.0373 on Monday amid investor concern about the government's policies.
Like several other central banks, the main focus of the RBI during the three-day-long meet will again remain on containing high inflation.
Price hike and inflation has made Durga Puja a costly affair for festival organisers of the district this year.
Retail inflation in India had touched 7 per cent in August as against 6.7 per cent in July due to rise in food prices.
S&P Economist Vishrut Rana said the rupee may continue to see volatility in the coming days, but India has 'substantial buffer' to withstand foreign fund outflows.
In its Economic Outlook for Asia Pacific, S&P said India's growth next year will get support from domestic demand recovery after the coronavirus pandemic.
As persistently high inflation hurts everyone, the size of the retirement corpus also grows.