India July CPI at 4.5% supports RBI pause, Commerzbank says
India's July CPI rose slightly to 4.5% year-on-year and stayed within the Reserve Bank of India's target band, with core inflation steady, according to Commerzbank.
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Commerzbank's FX team notes that India's consumer price inflation edged up to 4.5% year-on-year in July, but remained inside the Reserve Bank of India's target band. Core inflation was steady over the same period.
Against that backdrop, the contained inflation picture supports the RBI keeping its policy rate on pause, the analysts said.
The note focuses on the Indian rupee and the central bank's near-term policy path, with no additional details provided in the source.
Source: FXStreet Forex News