Global growth to decelerate in 2023: RBI monetary policy committee

NEW DELHI: Though global growth outlook has improved in recent months, it is expected to decelerate during 2023, said the RBI’s rate setting monetary policy committee (MPC), which, in its meeting on February 8, had raised the repo rate by 25 basis points to 6.50 per cent with immediate effect. The six-member panel decided to hike the repo rate by a mandate of four in favour (including RBI Governor Shaktikanta Das) while two were against it. According to the minutes of the MPC meeting, it was felt that the outlook on global growth has improved in recent months, despite the persistence of geopolitical hostilities and the impact of monetary policy tightening by central banks across the world. (IANS)

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