Rate hike not warranted as economic growth worries: RBI MPC minutes ...Middle East

Two of the three external members on the Reserve Bank Monetary Policy Committee (MPC) were not in favour of raising the key interest rate this month with one of them saying it was "not warranted" as inflationary expectations were diminishing and economic growth remained a concern. External members Jayanth R Varma and Ashima Goyal were not in favour of raising rates any further, according to the minutes of the February 6-8 MPC meeting released by the RBI on Wednesday. The third external member Shashanka Bhide went along with the three Reserve Bank members and voted for raising the key policy rate for the sixth time in a row. "In the second half of 2021-22, monetary policy was complacent about

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