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BRIEF-India cenbank deputy Acharya says risks evenly balanced around inflation outlook - cenbank minutes
April 20, 2017 / 11:57 AM / 5 months ago

BRIEF-India cenbank deputy Acharya says risks evenly balanced around inflation outlook - cenbank minutes

April 20 (Reuters) - Reserve Bank of India monetary policy meeting minutes:

* India MPC member Dholakia says “core inflation according to my calculations is likely to show a declining trend over the year” - cenbank minutes

* India MPC member Dholakia says “oil prices according to me are not expected to stay high consistently” - cenbank minutes

* India MPC member Ghate says pace of ending of re-investment of principal payments by US Fed from its balance sheet holdings needs to be watched carefully - cenbank minutes

* India MPC member Ghate says output gap, while marginally negative, is closing gradually leading to the possible building up of inflationary pressures - cenbank minutes

* India MPC member Dholakia says rising probability of El Nino event around July August may adversely affect food production but may not seriously impact the food prices” - cenbank minutes

* India MPC member Dholakia says “inflation projection according to my calculations is an average of around 4 percent for 1st half 2017-18 and around 4.5 percent for 2nd half of year” - cenbank minutes

* India MPC member Acharya says on growth front, remonetisation continuing apace, many sectors of economy recovering steadily; there are signs though that recovery is somewhat uneven - cenbank minutes

* India MPC member Dua says “upside risks to inflation remain” - cenbank minutes

* India MPC member Acharya says private investment, given the high indebtedness of several stressed sectors, remains a particularly weak spot- cenbank minutes

* India MPC member Dua says “ ECRI’s Indian future inflation gauge, a harbinger of Indian inflation, indicates some firming in inflation pressures” - cenbank minutes

* India MPC member Acharya says headline inflation set to rebound from recent lows due to expected (and in the past month, realized) mean-reversion in food inflation, specially in vegetables - cenbank minutes

* India MPC member Patra says “if staff’s projections are indicative, inflation excluding food and fuel will probably run ahead of headline inflation throughout 2017-18” - cenbank minutes

* India MPC member Acharya says uncertainty as to when the headline inflation might cross the target inflation rate of 4 percent and keep inching above - cenbank minutes

* India MPC member Patra says consumer confidence in the price situation has deteriorated - cenbank minutes

* India MPC member Acharya says risks are evenly balanced around the inflation outlook - cenbank minutes

* India MPC member Patra says with remonetisation, the output gap may close sooner than expected - cenbank minutes

* India MPC member Patra says "I believe that a pre-emptive 25 basis points increase in the policy rate now will point us better at the target of 4 per cent to which the committee has committed explicitly" - cenbank minutes Source text - (bit.ly/2o7hXS8)

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