The minutes from the recent meeting of the Monetary Policy Committee (MPC) of the Reserve Bank of India have been released. It was noted that inflation is aligning with targets, but challenges in the core sector persist due to demand deficits.

Deputy Governor Michael Patra mentioned that inflation is expected to stabilize by December as supply conditions improve, allowing for a cautious approach to monetary policy adjustments.

MPC member Rajiv Ranjan expressed confidence in the current strategy, stating that the committee's careful and calibrated measures have effectively contained inflation. He assured that any potential changes in policy stance will not compromise ongoing efforts to manage inflationary pressures. The MPC remains vigilant in monitoring economic conditions as it navigates the complexities of the current landscape.