RBI MPC Meeting: India's steady inflation and the threat of rising food prices are likely to delay any interest rate cuts by the central bank. Consumer prices rose 4.83% in April, close to economists' expectations. The Reserve Bank of India has maintained its 6.5% benchmark interest rate for over a year, with no cuts expected until the final quarter of the year. Citigroup economists predict a shift to a neutral stance in August due to favorable inflation data. Food prices, a significant component of consumer prices, continue to rise, impacting the overall inflation rate. Erratic weather and the upcoming elections are additional factors complicating the central bank's decision-making process.
