RBI Forecasts Inflation to Fall Below 4% in 2024, Opening Door for Future Rate Cuts

RBI expects inflation to ease below 4% target in fiscal 2024-25 if monsoon is normal and no policy shocks.

RBI governor said rate cuts may happen when inflation is durably near 4% or below.

Inflation projected at 4.3% in Q4 FY2025. Currently at 6.83% in August 2023.

Analysts expect rate cuts to start in 2024 when inflation nears 4%.

RBI consumer survey shows confidence at 4-year high on better economic and employment outlook.