Highlights of the minutes of RBI's MPC meeting of Jun 3-5
This story was originally published at 17:20 IST on 19 June 2026
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MUMBAI - Following are the highlights of the minutes of the Jun. 3-5 meeting of the Reserve Bank of India's Monetary Policy Committee, released by the central bank Friday:
SANJAY MALHOTRA
* Econ situation quite strong, healthy vs peers
* Peak of 5.9% CPI Q3 may suggest need for monetary policy step
* Prefer to wait and watch despite rising CPI trajectory
* High uncertainty of FY27 CPI, GDP projections
* Core inflation ex-precious metals seen lower than 4% aim FY27
* Most of rise in CPI view since Apr driven by food, fuel
* Food, fuel price rise may or may not get generalised
* Current CPI merits attention, especially when outlook clouded
* April CPI suggests underlying inflation pressures subdued
POONAM GUPTA
* Projected rise in inflation mostly to be in fuel, food items
* India econ seems to have held up well despite geopolitical shock
* Must wait for risks to play out before taking a call on rates
* Policy tightening may make econ pain of supply shock sharper
* Prudent to 'wait and watch' instead of a preemptive policy pivot
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