Rate-setters within the Monetary Policy Committee (MPC) are under pressure as discussions intensify ahead of the next monetary policy meeting.

One member of the MPC, Nagesh Kumar, argued for a rate cut during the last review in October, stating that it could boost demand and encourage private investment. Kumar's arguments were based on factors such as easing inflation, weak demand, and the actions of other economies, particularly the US Federal Reserve.

The minutes from the MPC meeting show a growing divide among members, with more support for a rate cut. The decision of the MPC will be closely watched by market participants and analysts due to its potential impact on the domestic economy and investment landscape.