Mumbai, June 19 -- Reserve Bank of India (RBI) announced minutes of its latest Monetary Policy Committee (MPC) meeting today. MPC member Dr. Nagesh Kumar stated that in the highly uncertain current economic environment, however, prudence requires waiting for greater clarity to emerge on the impact before any monetary policy response. One needs to keep an eye on the evolving geopolitical situation in West Asia and its implications for the Indian macroeconomic outlook, especially the growth-inflation dynamics.

Saugata Bhattacharya noted that the MPC forecasts on growth and inflation point to a need for caution in changing the policy rate, in terms of the risks of either metric, despite the quantitative forecasts having only limited tractio...