India’s central bank governor signaled he’s in no hurry to cut interest rates despite recent softening in inflation in the world’s fastest-growing major economy.
“Inflation has been brought within the target band of 2-6%, but our target is 4%,” Governor Shaktikanta Das said on Friday at a forum organized by The Bretton Woods Committee in Singapore. “And over the last several monetary policy meetings, we have been reiterating the importance to stay the course and not get carried away by some dips in inflation.”