New Delhi

India's Central Bank governor, Shaktikanta Das, said an interest rate cut at this stage would be "very, very risky." He added that the Reserve Bank of India (RBI) is in no hurry to join the wave of easing by global policymakers.

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Das said inflation is predicted to decline. However, he said "significant risks" to "the forecast remain. Das said that the dynamics of inflation and growth are well-balanced at the moment. The governor said authorities must continue on the lookout for pricing pressures.

The RBI hinted last week that it could be getting ready to ease after shifting its policy stance to neutral. The central bank, though, kept its benchmark interest rate at the same level for over two years. This comes even as global easing is well underway.

The US Federal Reserve is leading the world banks in lowering interest rates. Thailand was the most recent to do so this week.

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Responding to a question about global central bank easing, Das said, "We will not miss the party; we don't want to join any party."

Das pushed back against some views that the RBI was "behind the curve" in cutting rates. Market expectations were aligned with the central bank's actions, he said, citing last week's decision that was predicted by most economists.

The RBI governor said the inflation rate will remain elevated before moderating in November. That's made the timing of a rate cut uncertain. Several economists have now pushed out their rate-cut forecasts from December to next year.