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RBI holds key rate steady on robust growth, above target inflation

VCCircle

VCCircle · 1y ago

RBI holds key rate steady on robust growth, above target inflation

The Reserve Bank of India (RBI) has kept its key interest rate unchanged for the seventh consecutive policy meeting. Despite robust economic growth, inflation remains above the target of 4%. RBI Governor Shaktikanta Das emphasized the need to focus on inflation, with food price volatility remaining a concern. The decision was made by a majority vote of the monetary policy committee, with the policy stance of 'withdrawal of accommodation' retained. The GDP is forecasted to expand by 7% in the fiscal year 2025, with strengthening rural demand, improving employment conditions, and a pickup in manufacturing and services sectors expected to boost consumer demand.

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RBI delivers larger-than-expected 50 bps cut in repo rate

VCCircle

VCCircle · 2m ago

RBI delivers larger-than-expected 50 bps cut in repo rate

The Reserve Bank of India (RBI) cut its key repo rate by 50 basis points, totaling a 100 basis point reduction for 2025, due to lower inflation. This marks the third consecutive reduction, bringing the rate to 5.50%. Governor Sanjay Malhotra highlighted the alignment of inflation with the RBI's 4% target, allowing focus on economic growth. Retail inflation hit a near 6-year low, while GDP growth reached 7.4% in the January-March quarter.

How should debt fund investors invest post the RBI policy?

Money Control

Money Control · 1y ago

How should debt fund investors invest post the RBI policy?

The Reserve Bank of India (RBI) has left its key lending rate unchanged at 6.5% as it focuses on inflation and economic growth. The RBI governor, Shaktikanta Das, increased the country's GDP growth forecast from 7% to 7.2%, while keeping the Consumer Price Index forecast at 4.5%. Two external members of the Monetary Policy Committee voted in favour of a rate cut. Experts believe the RBI will wait for inflation to come closer to its target of 4% before easing monetary policy. The market is expecting a shallow rate cut starting at the end of 2019.

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.

US tariffs to hit India's GDP growth, prompt more rate cuts

VCCircle

VCCircle · 4m ago

US tariffs to hit India's GDP growth, prompt more rate cuts

India's GDP growth is projected to slow by 20-40 basis points due to new U.S. tariffs, prompting likely further interest rate cuts by the Reserve Bank of India (RBI). Analysts, including Goldman Sachs and Citi, revised their growth forecasts, anticipating rate reductions to support the economy. With inflation expected close to the RBI's target, the tariffs have led to reevaluating monetary policy, focusing on growth support while managing inflation risks.

RBI cuts rates for a second time as US tariffs add to growth risks

VCCircle

VCCircle · 4m ago

RBI cuts rates for a second time as US tariffs add to growth risks

The Reserve Bank of India (RBI) cut its key repo rate by 25 basis points to 6.00% for the second time to boost the sluggish economy amid pressures from U.S. tariffs. The Monetary Policy Committee made this decision following the initial rate cut in February. The new U.S. tariffs pose a threat to India's GDP growth estimates. Meanwhile, inflation dropped to 3.6% in February, below the central bank’s target, offering policymakers flexibility.

Impact of India's large rate cut may be limited, says RBI MPC member Saugata Bhattacharya

Economic Times

Economic Times · 1m ago

Impact of India's large rate cut may be limited, says RBI MPC member Saugata Bhattacharya

The immediate impact of a 25 basis-point rate cut by the Reserve Bank of India might be limited, according to MPC member Saugata Bhattacharya. Despite a larger 50-bp cut earlier to boost growth, Bhattacharya suggests a focus on MSMEs and home loan borrowers will be crucial. Inflation is expected to meet the RBI's 4% target, supporting steady economic growth. Bhattacharya advocates a gradual approach to rate adjustments amidst global uncertainties, emphasizing the importance of effective policy transmission.

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

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.

India inflation to stay above 6% target until October at least -economists

Reuters · 1y ago

India inflation to stay above 6% target until October at least -economists

India's inflation rate is expected to stay above the Reserve Bank of India's upper tolerance band of 6% until at least October, according to a Reuters poll of economists. Consumer prices in the country rose at their fastest annual rate in 15 months in July, driven by increased prices of essential foods. Economists have upgraded their inflation forecasts, with expectations that inflation will fall within the RBI's 2-6% target range in the next quarter or beyond. The delay in curbing inflation could put pressure on the government ahead of national elections in 2024.

Mint Quick Edit | Low inflation: Stoking high hopes?

Livemint

Livemint · 1m ago

Mint Quick Edit | Low inflation: Stoking high hopes?

India's retail inflation rate has dropped to under 3%, nearing the lower limit of the Reserve Bank of India's target, marking unprecedented price stability in over six years. This low inflation rate gives the RBI more room for policy maneuvers, as evidenced by its recent substantial monetary stimulus. However, how the inflation trend will develop throughout the year remains uncertain, posing a significant economic question for India.

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