Days after the US Federal Reserve hinted at a reduction in interest rates, Jayanth Varma, one of the external members of the Reserve Bank’s Monetary Policy Committee (MPC), said the country is reaching a phase where an interest rate cut is required to prevent an excessive real interest rate, or inflation-adjusted interest rate.
“I think we are approaching the point where an interest rate cut is necessary to prevent an excessive real interest rate,” Varma told The Indian Express in an interview.
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