As the Reserve Bank of India's Monetary Policy Committee (MPC) convenes for its bi-monthly review, the main focus is on potential interest rate adjustments. While the current sentiment suggests the RBI may maintain the repo rate at its current level, some economists are urging for a decrease to encourage lending and boost economic growth. However, concerns over persistently high inflation figures and uncertain global conditions may lead the RBI to maintain the status quo.
The Reserve Bank of India's three-day monetary policy review started on Wednesday, with expectations of a potential cut in the cash reserve ratio (CRR). The CRR is the percentage of a bank's total deposits that it is required to maintain in liquid cash with the RBI, and a reduction could signal the RBI's intention to ease monetary policy without reducing the repo rate. This move would free up significant bank liquidity and potentially stabilize the rupee.
The Reserve Bank of India (RBI) has decided to maintain the repo rate at 6.5 per cent, highlighting its cautious stance amidst economic uncertainties. This decision comes as the central bank continues to face challenges in keeping inflation within its target range. Experts believe that the RBI's focus on price stability over immediate rate cuts is necessary given the current economic climate and global factors. This stable interest rate environment is also perceived as beneficial for long-term investments in the real estate market.
In a highly anticipated meeting, the Reserve Bank of India's Monetary Policy Committee (MPC) has decided to keep the repo rate unchanged at 6.5%, following the results of the Lok Sabha election. This marks the eighth consecutive time that the MPC has decided to maintain the same rate. Additionally, the MPC has revised their GDP projection for the 2024 fiscal year to 7.2% from the previously predicted 7%, while also acknowledging potential risks to inflation. The decision has been met with positive reactions from the stock market, but borrowers may continue to face high interest rates on loans, while also seeing an increase in fixed deposit rates.
RBI Governor Shaktikanta Das announced that the Monetary Policy Committee (MPC) has decided to keep the policy repo rate unchanged at 6.5 per cent. He also stated that retail inflation remains above the targeted 4 percent, causing a need for a balanced approach towards monetary policy. The RBI also revised its growth projections for the current financial year to 7.2 per cent, with risks to the outlook being evenly balanced. Das emphasized the importance of maintaining a disinflationary approach and aligning inflation with the target in order to sustain price stability and support economic growth.
RBI Governor Shaktikanta Das will make an announcement on Friday morning regarding the next round of monetary policies, with expectations that the interest rate will remain at 6.5%. The central bank is likely to maintain its current stance on withdrawing accommodation, based on an SBI research paper that predicts a potential rate cut in the third quarter of the fiscal year. The decision will have significant impacts on the real estate sector, with experts noting that keeping the repo rate steady will support housing market affordability and overall economic growth.
RBI Governor Shaktikanta Das will announce the central bank's monetary policy decision at 10 am today, after a three-day meeting with the Monetary Policy Committee. While analysts expect the repo rate to remain unchanged at 6.5%, there might be a downward revision in FY25 GDP growth due to the high base effect. The RBI governor will also discuss current domestic and global economic situations and address a press conference at 12:00 pm. This will be the first monetary policy announcement since RBI hiked its interest rate in February 2023.
The RBI's Monetary Policy Committee has announced its decision to maintain the repo rate at 6.5%, for the seventh consecutive time. This means that for those whose loans are linked to the external benchmark, their EMIs will remain unchanged. The RBI Governor, Shaktikanta Das, has emphasized the importance of continuing to control inflation in order to ensure stable economic growth and has projected an inflation rate of 4.5% for the fiscal year 2025. Economists predict that there may be a series of rate cuts in the near future, possibly beginning in October of 2024, with a potential change in stance.
The Bombay High Court has struck down the Look-Out Circular issued against city developer and former MP Akhtar Hasan Rizvi, in a case of alleged cheating involving a family that invested in one of his projects. Rizvi, who is 82 years old, has also been named as an accused in the case. Despite this, the court had previously allowed him to travel abroad for medical treatment and his daughter's engagement, and is expected to announce its decision on the repo rate at 10 AM today.
The Reserve Bank of India, in its first monetary policy statement of the current financial year, has decided to maintain a status quo on the policy repo rate at 6.5 per cent. This is the seventh consecutive meeting that the Monetary Policy Committee has kept the rates unchanged, citing ongoing concerns about inflation remaining above the target of 4 per cent. The recent forecast of above-normal temperatures by the India Meteorological Department has added to the concerns about rising prices of vegetables and other perishable items, requiring close monitoring. However, Governor Shaktikanta Das remains optimistic about the outlook for agriculture, rural activity, and private consumption.