New Delhi, 26/6: The Reserve Bank of India will likely start cutting the policy repo rate in early 2024 once headline inflation eases toward the 4 per cent target, S&P Global Ratings said.
“In India, under the assumption of normal monsoons, we expect headline consumer inflation to soften to 5 per cent in fiscal 2024 from 6.7 per cent,” the rating agency said in a report dated June 25 that was released to the media on Monday.
“Softer crude prices and tempering of demand will bring down fuel and core inflation, respectively.”
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