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RBI holds interest rates steady yet again to keep inflation in check

VCCircle

VCCircle · 8m ago

RBI holds interest rates steady yet again to keep inflation in check

The Reserve Bank of India (RBI) has decided to keep its key interest rate unchanged at 6.50%. This decision was based on concerns over high inflation and disappointing economic growth. India's annual retail inflation rose to 6.21% in October, surpassing the central bank's tolerance band. Additionally, the country's GDP growth for the July-September quarter was the slowest in seven quarters at 5.4%. Investors will now be monitoring the RBI for any steps taken to address the liquidity deficit in the banking system, which could potentially lower market interest rates.

Related News

Fed holds rates steady, sees just one cut in 2024 despite inflation progress

Livemint

Livemint · 1y ago

Fed holds rates steady, sees just one cut in 2024 despite inflation progress

The US Federal Reserve has decided to keep interest rates steady and delayed rate cuts until later in the year. Previously, the Fed had projected three quarter-percentage-point reductions, but this has now been reduced to a single reduction. The decision comes as the Fed acknowledges progress towards its inflation target, but also raises estimates for the necessary actions to control inflation. The central bank's new projections show a higher long-run interest rate, indicating a need for more restraint to combat rising prices.

What global central banks are signalling about the road ahead

Livemint

Livemint · 1m ago

What global central banks are signalling about the road ahead

Global central banks, including the US Federal Reserve, gave significant signals affecting macroeconomic conditions. The Fed maintained interest rates at 4.25–4.5%, indicating possible reductions by 2025. The Bank of England held steady, while Japan hinted at future rate hikes. Concerns involve rising inflation, global tariff tensions, and geopolitical conflicts impacting energy prices. In contrast, India's RBI cut rates, acknowledging the fragile global economy, with US-India trade relations being closely monitored for future domestic market impacts.

RBI holds rates again as inflation fight continues; retains GDP forecast

VCCircle

VCCircle · 1y ago

RBI holds rates again as inflation fight continues; retains GDP forecast

The Reserve Bank of India (RBI) has chosen to keep its key interest rate unchanged, as it maintains its focus on reducing inflation towards its 4% target. The Monetary Policy Committee has decided to retain the repo rate at 6.50%. This is the ninth consecutive policy meeting where the rate remains unchanged. Four out of six committee members voted in favour of the decision. The RBI Governor, Shaktikanta Das, stated that it is important to maintain the current monetary policy to bring inflation down and ensure sustainable economic growth. The MPC last changed rates in February 2019.

SBI Research anticipates RBI repo rate cut in February policy meet

Livemint

Livemint · 8m ago

SBI Research anticipates RBI repo rate cut in February policy meet

The Reserve Bank of India (RBI) is expected to cut repo rates in February 2025, regardless of the impact of the rupee's weakness against the dollar, according to a report by SBI Research. The report predicts a cumulative 75 basis points rate cut. The RBI recently announced its decision to keep the repo rate at 6.50%, maintaining a neutral monetary policy stance. The report also mentions the RBI's upward revision of inflation projection for 2024-25 and the downward revision of GDP growth forecast.

RBI expected to maintain policy rates amid US tariff concerns and trade deal uncertainty

Economic Times

Economic Times · 4d ago

RBI expected to maintain policy rates amid US tariff concerns and trade deal uncertainty

The Reserve Bank of India (RBI) is anticipated to keep policy rates unchanged, as per an ET poll of economists. Out of 16 economists, 12 expect the repo rate, currently at 5.5%, to remain stable. Economic uncertainties from US tariffs and pending trade deals contribute to this expectation. However, some analysts predict a possible rate cut due to low retail inflation. Barclays and Nomura foresee potential rate cuts in upcoming months, despite retaining growth forecasts.

RBI rate cut expected as inflation eases and credit growth slows in India - BusinessToday

Business Today

Business Today · 2m ago

RBI rate cut expected as inflation eases and credit growth slows in India - BusinessToday

The Reserve Bank of India (RBI) is expected to announce a third consecutive rate cut of 25 basis points in its upcoming meeting to support growth and maintain financial stability amid controlled inflation. Led by RBI Governor Sanjay Malhotra, the meeting aims to shift the monetary stance from neutral to accommodative. Some forecasts suggest a larger rate cut of 50 basis points to counter economic uncertainty. Banks are already reducing interest rates on savings and fixed deposits.

S&P revises Saudi Arabia's outlook to positive on advancing non-oil economy

VCCircle

VCCircle · 10m ago

S&P revises Saudi Arabia's outlook to positive on advancing non-oil economy

S&P Global Ratings has revised Saudi Arabia's outlook to positive from stable due to strong non-oil growth and economic resilience. The ratings agency believes that the Saudi government's potential for reforms and investments will contribute to the development of the non-oil economy. They expect an acceleration of investments in industries such as tourism to diversify the economy away from its reliance on the hydrocarbon sector. S&P also affirmed Saudi Arabia's ratings at "A/A-1" and expects inflation to remain steady while interest rates move in tandem with the US Federal Reserve rates.

Core sector production shrinks for the first time since February 2021

Money Control

Money Control · 10m ago

Core sector production shrinks for the first time since February 2021

petroleum refinery products, natural gas, crude oil, and electricity—contracted in August 2024 compared to the same month last year. The contraction in core sector growth is expected to impact overall industrial production, which may also face a slowdown. Inflation has remained high, with the consumer price index (CPI) rising by 5.30 percent in August 2024. This was driven by higher food and fuel prices. The Reserve Bank of India (RBI) has kept its key policy rates unchanged, maintaining a cautious stance to support economic recovery while keeping inflation in check. With the ongoing challenges in the core sector and the persistent inflationary pressures, the Indian economy faces uncertainties in the near term.

RBI holds rates as expected, shifts stance to 'neutral'

VCCircle

VCCircle · 10m ago

RBI holds rates as expected, shifts stance to 'neutral'

- RBI keeps key interest rate unchanged at 6.50% for the tenth consecutive policy meeting - The policy stance is changed from "withdrawal of accommodation" to "neutral" - Five out of six members of the Monetary Policy Committee vote in favor of holding rates - Annual retail inflation remains below the central bank's target of 4%, standing at 3.65% in August - Manufacturing and services PMI indicators show a slowdown in economic growth - Overall growth in India slows to 6.7% in the June quarter

Economists split on interest rate cuts as inflation hits six-year low

Economic Times

Economic Times · 11d ago

Economists split on interest rate cuts as inflation hits six-year low

Economists are divided on whether the Reserve Bank of India should cut interest rates amid six-year low inflation. Some argue for a rate cut in the upcoming August policy, citing low inflation, while others suggest maintaining rates due to uncertain future trends and trade developments. The RBI’s decision will consider GDP projections and recent inflation data, with the central bank focusing on price stability. The repo rate has already been reduced by 100 basis points since February.

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