The Reserve Bank of India's (RBI) Monetary Policy Committee (MPC) meeting will be held from Tuesday. The three-day meeting of the Fiscal Policy Committee will be held from February 6 to February 8. According to experts, there is little hope for EMI to rise at present. RBI may keep rates unchanged this week after a year of previous hikes. The Reserve Bank of India (RBI) is expected to leave the interest rate unchanged this week. Although the government has reduced the deficit in the budget, it was expected that the rates will come down soon, but it does not seem to be happening.
Meanwhile, most bankers and economists believe that a rate cut could happen in the second half of the year. At this time, there is little hope of interest rate reduction. The first reason is the problem of foreign trade. Yemen's Houthi rebels attack ships, threatening to disrupt global supply chains. This may affect Indian imports.
The US Federal Reserve and Britain's central banks have signaled they will not cut rates any time soon. As the inflation is gradually decreasing and the condition of the economy is good, the RBI is also getting relief. Meanwhile, interest rates are expected to ease towards the end of the year.
A change in February
The RBI last hiked the repo rate to 6.5 percent in February 2024. While the repo rate has remained constant in the last 12 months. The three-day meeting of the MPC chaired by RBI Governor Shaktikanta Das will begin from February 6. Shaktikanta Das will announce the decision of the meeting on February 8.
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