MPC is right in deciding to look through recent spikes in food prices

https://www.thehindubusinessline.com/opinion/editorial/mpc-is-right-in-deciding-to-look-through-recent-spikes-in-food-prices/article67180571.ece

Interest rates may not rise sharply from here, nor will they decline anytime soon. This is the key message from the Reserve Bank of India (RBI) after its latest monetary policy review. In a widely anticipated decision, the Monetary Policy Committee (MPC) decided to hold its policy repo rate at 6.5 per cent. But as the pause was accompanied by sharp increases in forecast Consumer Price Index (CPI) inflation and a reiteration of the 4 per cent inflation target, hopes for a rate cut early next fiscal have now dimmed.