Inflation above its target, but RBI unlikely to change rates

The Reserve Bank of India's rate-setting committee is expected to maintain interest rates at their current level, despite inflation being above the target range, rising crude oil prices, and a weakening rupee. The committee has kept rates unchanged since February 2023. Economists predict that inflation will decrease in the coming months, but caution that the central bank should be watchful of rising oil prices and bond yields.

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