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BRIEF-India MPC member Chetan Ghate says inflation excluding food & fuel remains sticky - cenbank minutes
February 22, 2017 / 11:48 AM / 6 months ago

BRIEF-India MPC member Chetan Ghate says inflation excluding food & fuel remains sticky - cenbank minutes

Feb 22 (Reuters) -

* India MPC member Ghate says "Since I do not see a persistent opening up of the output gap because of demonetisation, this does not warrant a rate cut" - cenbank minutes

* India MPC member Dua says "The ratio of currency in circulation to GDP is on the rise, suggesting that remonetisation is progressing well" - cenbank minutes

* India MPC member Dholakia says surveys conducted by RBI to provide input for monetary policy indicate that investment outlook may remain subdued - cenbank minutes

* India MPC member Ghate says "While both 3 month and 1 year median inflationary expectations have fallen, it is unclear whether this will sustain" - cenbank minutes

* India MPC member Ghate says focus in budget on reducing revenue expenditure without compromising on capital expenditure suggests that budget will not add to inflationary momentum of economy - cenbank minutes

* India MPC member Dua says on the inflation front, core inflation (excluding food and fuel) remains sticky, close to 5 per cent - cenbank minutes

* India MPC member Dua says "Exports growth is likely to continue to provide support to the economy, but volatility in the foreign exchange markets is a concern" - cenbank minutes

* India MPC member Ghate says "Inflation excluding food and fuel remains sticky, and since it is above headline inflation, this will exert upward pressure on headline inflation" - cenbank minutes

* India MPC member Dholakia says as transitory impact of demonetisation recedes and remonetisation sets in, the banks' MCLRs are likely to increase marginally - cenbank minutes

* India MPC member Ghate says "Impact on financial markets of the possible ending of re-investment of principal payments by the US Fed from its balance sheet holdings needs to be watched carefully" - cenbank minutes Source text: bit.ly/2m7m5QV

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