Datasets:
gtfintechlab
/
reserve_bank_of_india

Dataset card Data Studio Files Community
sentences
stringlengths
15
503
stance_label
stringclasses
4 values
time_label
stringclasses
2 values
certain_label
stringclasses
2 values
year
int64
2.02k
2.02k
__index_level_0__
int64
1
999
at the current juncture, however, the gains in output stabilisation are being threatened by the incidence of sporadic supply shocks which elevate the general level of prices instead of dissipating at the business cycles, international transmission and macroeconomic policies conference, hec 9 f s ( ) through relative price adjustments within the budget constraint.
hawkish
forward looking
certain
2,023
549
vegetable prices that have exhibited persistence at elevated levels due to weather-related disturbances should also correct starting december.
hawkish
not forward looking
certain
2,020
476
increasingly, financial markets have shown resilience to geo-political events and have swiftly priced them in.
neutral
not forward looking
certain
2,017
663
industrial gva growth remained unchanged in q3, with manufacturing gva growth slowing somewhat.
neutral
not forward looking
certain
2,019
820
available forward industrial outlook survey and the consumer confidence survey do not suggest much risk of immediate demand pressures.
dovish
forward looking
certain
2,017
736
moreover, high new investment.
irrelevant
not forward looking
uncertain
2,017
867
thus, to a large extent, the fiscal slippage of the centre is compensated by the fiscal discipline shown by the states.
neutral
not forward looking
certain
2,018
32
manufacturing sector continued to improve with the latest round of the rbi industrial outlook survey (of 1095 manufacturing companies) showing strong sentiments on production and order seasonally adjusted increase in capacity utilization at a 20-quarter high.
dovish
not forward looking
certain
2,018
990
however, this should not lull us into assuming a goldilocks scenario.
neutral
forward looking
certain
2,021
676
the optimism generated by these evolving macroeconomic conditions and the recent improvement in financial conditions in response to prudent and growth-stimulating budgetary announcements would come full circle if inflation eases and aligns with the target.
dovish
forward looking
certain
2,024
234
inflation is gradually trending down, but the pace is slow and uneven.
hawkish
not forward looking
certain
2,024
833
while a favourable south-west monsoon and lower inflation rate may support higher personal consumption growth, sustained momentum of gfcf and export growth would also be crucial for the high growth in 2024-25. economic growth at 3.2 per cent, projected previously in april.
dovish
forward looking
certain
2,024
892
similarly, oecd projects world trade to grow by 2.3 per cent during 2024 as compared to 1.0 per cent in 2023.
neutral
forward looking
certain
2,024
472
the only source of comfort is that all the evidence at the moment suggests that inflation is being driven not by domestic demand, but by supply side factors including the global surge in commodity prices.
dovish
not forward looking
certain
2,021
201
the outlook is grim; even when it improves, the expectation is one of slow, hesitant recovery, with the situation likely to worsen before it gets better.
dovish
forward looking
certain
2,020
745
turning to q3, the committee felt that the assessment is clouded by the still unfolding effects of the withdrawal of specified bank notes (sbns).
neutral
not forward looking
uncertain
2,016
678
global growth is expected to fall in fy24 but a turnaround is possible in fy25.
hawkish
forward looking
certain
2,023
959
the uneven feature of growth points to vulnerabilities.
neutral
forward looking
uncertain
2,023
710
the recovery in economic activities requires support from consumer spending.
dovish
forward looking
certain
2,020
159
now for quite some time, they have been borrowing directly from the market and their fiscal performance has a direct bearing on their interest costs.
neutral
not forward looking
certain
2,017
368
in my view, these healthy developments on the economic activity front are likely to remain durable due to steady progress in the time-bound resolution of twin balance-sheet problem affecting our banks and corporates.
dovish
forward looking
uncertain
2,018
185
marked by an increase in selling prices.
hawkish
not forward looking
certain
2,018
728
international crude oil prices keep surging as iran sanctions approach, creating a difficult choice between pass-through to the pump prices and fiscal or quasi-fiscal absorption through excise cuts.
hawkish
not forward looking
certain
2,018
735
indeed, india has done better than expected and in comparison to many countries under the pandemic and ukraine war shocks.
neutral
not forward looking
certain
2,022
492
commodity prices remain elevated, and consequently, inflationary pressures have accentuated in most advanced economies (aes) and emerging market economies (emes), prompting monetary tightening by a few central banks in the former group and several in the latter.
hawkish
not forward looking
certain
2,021
505
crude oil prices jumped to 14year high in early march; despite some correction, they remain volatile at elevated levels.
hawkish
forward looking
uncertain
2,022
168
since mid-june to end-july 2023 tomato prices have surged by 362 per cent, with more than 80 per cent of the price escalation happening during endjune and first half of july.
hawkish
forward looking
certain
2,023
38
the indian economy is well-poised to achieve this combination and to reduce its chronic underemployment.
dovish
forward looking
certain
2,023
101
cpi inflation excluding vegetables has moved higher.
hawkish
not forward looking
certain
2,023
233
after the firm-lending based npas most banks are trying to increase retail loans.
dovish
forward looking
uncertain
2,023
266
stabilising inflation expectations is progressing, as reflected in forward-looking surveys; anchoring them is crucial for achieving the inflation target.
dovish
forward looking
certain
2,024
470
we do not need such a high real policy rate.
dovish
forward looking
certain
2,019
688
between mid-june to end-july 2017 tomato prices increased to touch rs.
dovish
not forward looking
certain
2,023
707
this is expected to further boost rural consumption, as_ evidenced by the growth in consumer non-durables.
dovish
forward looking
certain
2,017
278
while weak external demand is a drag on our merchandise exports, growth of remittances and exports of services is robust.
neutral
not forward looking
certain
2,023
570
for all practical purposes the reverse repo rate is now the effective policy rate.
neutral
forward looking
certain
2,020
670
indian growth has outperformed expectations once again, suggesting it has strong roots.
dovish
not forward looking
certain
2,024
675
moreover, the fragile demand conditions could help limit the pass-through of input cost pressures across manufacturing and services to output prices.
hawkish
forward looking
uncertain
2,021
144
as in the case of aggregate gdp, pfce and gfcf are below their pre-pandemic levels in q1: 2019-20.
hawkish
not forward looking
certain
2,021
918
while measures to address the local and domestic conditions related to both the economy and the pandemic have borne fruit, the global conditions appear diverse as far as the pandemic is concerned.
neutral
not forward looking
uncertain
2,021
141
in the us, the equity market witnessed some selling pressure in the last week of march on weak economic data.
hawkish
not forward looking
certain
2,019
263
bank credit growth has continued to improve.
dovish
not forward looking
certain
2,018
128
given the uncertain outlook, it may engender a situation where we may find ourselves striving to do a catch-up through stronger policy actions in the subsequent meetings to ward-off accentuated inflationary improvement in the inflation outlook.
hawkish
forward looking
uncertain
2,022
607
in the construction segment, steel consumption was robust.
neutral
not forward looking
certain
2,017
108
business and consumer confidence rose in october.
dovish
not forward looking
certain
2,017
105
with inflation projected to rise above 4 per cent over the 12-month ahead horizon, it is apposite to persevere with the stance of calibrated tightening to head off inflation pressures from potentially corroding the foundations of the growth path that is evolving over the medium-term.
hawkish
forward looking
uncertain
2,018
35
successive meetings that promise to withdraw accommodation while actually keeping rates unchanged do not enhance the credibility of the mpc.
neutral
not forward looking
certain
2,023
839
pmi for services registered a sharp uptick in november, driven by new business.
dovish
not forward looking
certain
2,018
537
in the context of the latter, it is paradoxical that weak aspects of economic activity are shows that it is expected to accelerate in 2017-18!
hawkish
forward looking
certain
2,017
495
growth is resilient, and that is also encapsulated in upgrade in growth forecasts for q2, q3 and q4 of 2022-23.
dovish
forward looking
certain
2,022
979
a flattening of the yield curve remains an important goal but, i think it must be pursued using other instruments which largely lie outside the remit of the mpc.
neutral
not forward looking
certain
2,021
271
turning to inflation, food prices other than vegetables are exhibiting sustained firmness and a pick-up in momentum.
hawkish
forward looking
certain
2,016
8
however, lack of contestability and collusive behaviours have been seen in the past and the price rises can follow to protect margins.
hawkish
forward looking
certain
2,022
737
for sub-sectors such as infrastructure (especially public transportation, railways etc.)
irrelevant
not forward looking
certain
2,017
523
on the supply side, industrial growth has weakened as reflected in deceleration in the growth of index of industrial production (iip) for january; the growth of core industries for february remained sluggish.
hawkish
not forward looking
certain
2,019
968
with the exception of a few product groups, the high rate of price rise was widespread.
hawkish
not forward looking
certain
2,022
279
these indicators represent a wide range of sectors that are maintaining their pace, which we had noticed in the previous round of mpc deliberations as well.
neutral
not forward looking
certain
2,021
853
inflation in many key emes has risen on surging crude prices and currency depreciations, caused by a firm dollar and domestic factors.
hawkish
not forward looking
certain
2,018
899
it remains to be seen if the strength of that momentum is able to offset strong, pandemic-induced unfavourable base effects.
neutral
forward looking
uncertain
2,022
282
merchandise exports and imports including non-oil non-gold imports have registered negative yoy growth rates in the recent months.
dovish
not forward looking
certain
2,023
758
in a country with volatile inflation and thin news sources a lot of attention is paid to central bank communication.
neutral
not forward looking
certain
2,022
375
the committee believes that the environment for timely transmission of policy rates the banking sector is hastened; and, (iii) the formula for adjustments in the interest rates on small savings schemes to changes in yields on government securities of corresponding maturity is fully implemented.
neutral
forward looking
certain
2,017
937
while prospects for the rabi crop have improved, especially for wheat and oilseeds, risks from adverse weather events remain.
neutral
forward looking
uncertain
2,023
92
headline inflation adjusted for the estimated impact of an increase in house rent allowance (hra) of central government employees (as per october, while cpi excluding food and fuel adjusted for the impact of an increase in hra increased from 5.3 per cent in september to 5.9 per cent in october.
hawkish
not forward looking
certain
2,018
371
urban consumption continues to be steady.
neutral
not forward looking
certain
2,024
190
gold prices have risen, underpinned by safe haven demand in response to geo-political uncertainty and volatility in equity markets.
hawkish
not forward looking
certain
2,019
546
the global outlook becomes increasingly uncertain and tilted by downside risks.
hawkish
forward looking
uncertain
2,022
804
improving growth in the economy is also reflected in the rising capacity utilization of survey (obicus) as well as acceleration of growth in cement and steel production, upward revision of agricultural growth and resilience of the services sector.
hawkish
forward looking
certain
2,018
325
a variety of high frequency indicators look fairly weak which nowcast a loss in growth momentum.
hawkish
forward looking
certain
2,019
568
we have waited for one year to watch the impact of these shocks, now it is time to move on.
neutral
forward looking
certain
2,024
404
headline inflation is projected to remain soft in the near term reflecting the current low level of inflation and the benign food inflation outlook.
hawkish
forward looking
certain
2,019
352
looking ahead, agricultural production and rural demand are expected to remain resilient.
dovish
forward looking
certain
2,021
866
_ref: cogley, t., primiceri, g. e., & sargent, t. j.
irrelevant
not forward looking
certain
2,022
208
so, i vote for keeping repo rate unchanged and continuing the accommodative stance.
neutral
forward looking
certain
2,021
679
investment activity is push, and strengthening bank credit.
dovish
not forward looking
certain
2,022
145
while the vaccinations are making progress in the advanced economies, there has been a rise in covid infections in the winter months.
neutral
not forward looking
certain
2,021
567
ii) on the other hand, the rbi surveys show that consumer confidence on income, employment and overall economic environment is very low and declining in recent times.
hawkish
not forward looking
certain
2,017
793
after the last meeting of mpc in june 2019, several important events have occurred.
irrelevant
not forward looking
certain
2,019
6
these decisions are in consonance with the objective of achieving the medium-term target for consumer price index (cpi) inflation of 4 per cent within a band of +/- 2 per cent, while supporting growth.
dovish
forward looking
certain
2,022
329
activity in cash-intensive retail trade, hotels and restaurants, transportation and unorganised segments has largely been restored.
neutral
not forward looking
certain
2,017
857
in such an environment, continued policy support remains necessary.
neutral
forward looking
certain
2,021
653
that is not yet achieved; any faltering from this commitment could undermine the prospects of the indian economy.
neutral
forward looking
certain
2,024
612
with the abolition of the incremental cash reserve ratio from december 10, liquidity management operations have consisted of variable rate reverse repos under the laf of tenors ranging from overnight to 91 days and auctions of cash management bills under the market stabilisation scheme (mss) of tenors ranging from 14 to 63 days.
neutral
forward looking
certain
2,017
104
it need not be a concern for the mpc.
irrelevant
not forward looking
uncertain
2,017
21
wage pressures in the rural sector moderated; however, those in the organised sectors remained firm.
neutral
not forward looking
certain
2,018
517
it is important to break this recessionary loop, shore up the erosion in confidence, incentivise banks to invest and lend, and people to spend.
dovish
forward looking
certain
2,020
514
spikes in food prices can therefore be looked through as long as they remain just that.
neutral
forward looking
certain
2,023
69
since nonbank financial intermediaries do not have access to a lender of last resort and penalties for credit default are now high they also tend to hold excess liquidity.
neutral
not forward looking
certain
2,024
165
the business inflation expectations survey (bies) conducted by iim ahmedabad covering mainly manufacturing firms has reported a decline in the one-year ahead expectation of yoy consumer inflation to 4.91 per cent in december 2022 compared to 5.32 per cent in october 2022.
hawkish
not forward looking
certain
2,023
301
senior advisor, national council of applied economic research, delhi; dr. ashima goyal, emeritus professor, indira gandhi institute of development research, mumbai; prof. jayanth r. varma, professor, indian institute of management, ahmedabad; dr. rajiv ranjan, executive director (the officer of the reserve bank nominated by the central board under section 45zb(2)(c) of the reserve bank of india act, 1934); dr. chaired by shri shaktikanta das, governor.
irrelevant
not forward looking
certain
2,022
648
high-frequency indicators of the services sector suggest some moderation in the pace of activity.
neutral
not forward looking
certain
2,019
66
inflation excluding food and fuel has turned down in three readings now, but it is still not generalized and projections still run ahead of headline inflation in the rest of 2017-18.
hawkish
not forward looking
certain
2,017
680
with medical solutions yet to be found, it is difficult to anticipate the output loss that might occur from further waves of infections even as path to normalisation has begun.
dovish
forward looking
uncertain
2,020
900
in the case of construction and trade, hotels, transport, communication and broadcasting related services, which experienced a decline of close to 50% in q1, the rate of decline in gdp in q2 was less than 16%.
hawkish
not forward looking
certain
2,020
450
on the other hand, steel output has recorded sustained expansion following the application of countervailing duties.
dovish
not forward looking
certain
2,016
68
headline inflation excluding food and fuel has moderated somewhat due to a fall in crude oil past three prints, with inflation in health and education components showing a spike in december due to unexpected rise in prices of medicines and private tuition costs.
hawkish
not forward looking
certain
2,019
700
along with adequate buffer stock of foodgrains, these factors should help to keep cereal prices range bound.
neutral
forward looking
certain
2,021
483
a significant portion of this liquidity has been parked back at central bank window.
neutral
not forward looking
certain
2,020
729
though the pipeline investment from last year is weak, there is anecdotal evidence of new projects that are or can soon get into financial closures.
dovish
forward looking
certain
2,021
734
it remains to be seen how it might respond ahead as pent-up demand wanes while animal spirits remain anaemic.
irrelevant
forward looking
uncertain
2,020
58