June 26, 2025
Fed's benchmark overnight rate held steady in 4.25%-4.50% range while policymaker projections show two rate cuts still seen in 2025
Consumer sentiment index jumps 16% in June, and inflation expectations are moderate
Banks struggle to raise deposits despite offering clients high interest rates, says governor
He says non-food inflation, once at 12.5pc, is now close to 9.25pc and still declining
Business leaders fear rising operational costs will slow down economy despite inflation control efforts
The government targets to tamp inflation down to 6.5% in the budget for FY2025-26
"The government's top priority is to control inflation. Until it is brought under control, the contractionary monetary and fiscal policies will continue."
He calls for a budget that revives business confidence, strengthens exports, and tackles inflation while boosting local production and demand
