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Podcast: Beyond Currency
Episode: 9 March 2023 - Dhingra warns about further hikes
Description: Monetary Policy Committee member, Swati Dhingra, nailed her colours firmly to the dovish mast, yesterday as she called for an immediate end to rate increases.
She believes that any further hikes present a material risk to the economy in the medium term. In her opinion, interest rate increases take about a year to see their full effect on inflation, and with rates having risen by 390 basis points over the last fifteen months, there should be a pause to fully evaluate their effect.
She voted against hikes at both the December and February meetings. Which leads to a conclusion that she...