April 19, 2018 / 11:54 AM / 6 months ago

BRIEF-RBI Official Patra: Underlying Macroeconomic Developments Impart Some Urgency To Commencing Withdrawal Of Accomodation

April 19 (Reuters) -

* INDIA MPC MEMBER GHATE BROAD-BASED TURNAROUND IN GROWTH CONTINUES TO GATHER STRENGTH, ALTHOUGH TURNAROUND IS BENEFITTING FROM A FAVOURABLE BASE

* INDIA MPC MEMBER GHATE CREDIT GROWTH CONTINUES TO PICK UP, AFTER LAGGING BEHIND NOMINAL GDP GROWTH IN THE LAST TWO YEARS

* INDIA MPC MEMBER GHATE THERE IS A RISK THAT RECENT FRAUD IN A PUBLIC SECTOR BANK MAY MAKE BANKS RISK AVERSE AND SLOW LENDING

* INDIA MPC MEMBER GHATE OVERALL, GROWTH SIGNALS ARE STRONG

* INDIA MPC MEMBER GHATE MORE THAN THE CYCLICAL DRIVERS OF FOOD INFLATION, WHAT WORRIES ME ARE UPSIDE STRUCTURAL RISKS TO INFLATION THAT IMPINGE ON DURABILITY OF 4% INFLATION TARGET

* INDIA MPC MEMBER GHATE CONCERNED ABOUT SIMULTANEOUS OCCURRENCE OF ADVERSE TWIN TERMS OF TRADE SHOCKS FROM CROP MSP AND OIL PRICES

* INDIA CENBANK OFFICIAL PATRA UNDERLYING MACROECONOMIC DEVELOPMENTS IMPART SOME URGENCY TO COMMENCING WITHDRAWAL OF ACCOMMODATION

* INDIA CENBANK OFFICIAL PATRA IMPORTANT TO RECOGNISE THAT VOLATILITY IN PRICES OF VEGETABLES IS OBSCURING A CLEARER EVALUATION OF UNDERLYING INFLATION PRESSURES

* INDIA CENBANK OFFICIAL PATRA SHOULD FOOD SITUATION TURN ADVERSE OR OVERWHELM FOOD MANAGEMENT STRATEGIES, WE WILL HAVE TO DEAL WITH INFLATION TESTING UPPER TOLERANCE LIMIT OF INFLATION BAND (Reporting By Abhirup Roy and Euan Rocha)

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