India rate panel downplays case for pre‑emptive rate move in meeting minutes
MUMBAI, June 19 (Reuters) – India’s rate panel chose to adopt a wait and watch approach in keeping interest rates on hold earlier this month, to see if higher oil and food prices are likely to lead to more generalised inflation, minutes of the committee’s meeting released on Friday showed. A sharp rise in oil prices brought on by the Iran war has sent the Indian rupee tumbling and raised fears of a spike in inflation, prompting some in the market to wager on a hike in interest rates. The panel had, however, voted unanimously to keep the policy repo