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BRIEF-India budget allowed rate panel to focus squarely on inflation mandate-MPC minutes
February 22, 2017 / 11:48 AM / 8 months ago

BRIEF-India budget allowed rate panel to focus squarely on inflation mandate-MPC minutes

Feb 22 (Reuters) -

* India cenbank releases February monetary policy committee meeting minutes

* India cenbank chief Patel says economic activity is expected to pick up from latter part of Q4 of 2016-17

* India cenbank chief Patel says there will be sufficient flexibility to move policy rate in either direction depending on future data outcomes and projections

* India cenbank chief Patel says discretionary consumer demand, which got impacted in immediate aftermath of demonetisation, expected to bounce back

* India cenbank deputy Acharya says significant transmission to borrowers of easy funding conditions at banks suggests unlikely further transmission of a rate cut by banks

* RBI’s Acharya says effects on funding costs due to portfolio outflows could be substantial if cbank is not perceived as staying course on credible inflation targeting

* RBI’s Acharya says budget has allowed rate panel to focus “squarely” on inflation targeting mandate (Reporting By Suvashree Dey Choudhury)

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