RBI set to hold first monetary policy review in 2024-25; rate cut unlikely – World News Network

Date:

Share post:

Mumbai (Maharashtra) [India], April 2 (ANI): The Reserve Bank of India will hold its first three-day monetary policy review meeting of 2024-25 starting Wednesday and the outcome of the meeting will be announced on Friday morning.

The RBI typically conducts six bimonthly meetings in a financial year, where it deliberates interest rates, money supply, inflation outlook, and various macroeconomic indicators. The other five meetings are scheduled for June 5-7, 2024; August 6-8, 2024; October 7-9, 2024; December 4-6, 2024; and February 5-7, 2025.

The Monetary Policy Committee of the Reserve Bank of India (RBI) in its February review meeting unanimously decided to keep the policy repo rate unchanged at 6.5 per cent, thus maintaining status quo for the sixth straight time.
The repo rate is the rate of interest at which RBI lends to other banks.

Deliberating the policy statement in February after a three-day review meeting, RBI Governor Shaktikanta Das attributed comfortable inflation and firm growth dynamics as the reasons behind maintaining the status quo the policy stance.

Inflation has been a concern for many countries, including advanced economies, but India has largely managed to steer its inflation trajectory quite well.
“The MPC is unlikely to act on policy rates on April 5th. Even though rate cuts can be expected this year, the time is not yet conducive for a rate cut,” said VK Vijayakumar, Chief Investment Strategist, Geojit Financial Services.

Vijayakumar argued that a rate cut is not warranted now, given India’s firm economic growth forecast.

Barring the latest pauses, the RBI raised the repo rate by 250 basis points cumulatively to 6.5 per cent since May 2022 in the fight against inflation. Raising interest rates is a monetary policy instrument that typically helps suppress demand in the economy, thereby helping the inflation rate decline.
Retail inflation in India is in RBI’s two-six per cent comfort level but is above the ideal 4 per cent scenario. In February, it was 5.09 per cent.
According to SBI Research, the Reserve Bank of India (RBI) might initiate a rate cut cycle in the third quarter of current financial year 2024-25.
Given that the RBI Governor has been highlighting the aim of getting inflation to 4 per cent on a durable basis, the policy rates are likely to be kept on hold in the upcoming policy meeting, asserted CareEdge Ratings ahead of the meeting. (ANI)
S&P Global Ratings forecast rate cuts of up to 75 basis points (100 basis points is equal to 1 percentage point) in India by its central bank in the financial year 2024-25.
With both retail and wholesale inflation figures remaining at a manageable level, Morgan Stanley expects the Reserve Bank of India to start cutting rates from June 2024. (ANI)


Disclaimer: This story is auto-generated from a syndicated feed of ANI; only the image & headline may have been reworked by News Services Division of World News Network Inc Ltd and Palghar News and Pune News and World News


Paris Appreciation Awards

Read More

World Polls

Read More

Short News

Read More

Indian Bureaucrats

Read More

World Talent Management

Read More

World Brand Ambassadors

Read More

Film Critics

Read More

Influencers

Read More

Video Press Release

Read More

podcasts Press Release

Read More

Social Media

Read More

Colleges Press Release

Read More

Business Press Release

Read More

Critics Press Release

Read More

Fashion Marketing Press Releases

Read More

Gaming Press Release

Read More

Finance Press Release Distribution

Read More

Creative Press Release

Read More

Animals Press Release

Read More

Tech News Press Release

Read More

Cryptomarket Press Release

Read More

Fitness News Press Release

Read More

Gadgets Press Release

Read More

Gardening Press Release

Read More

Stockmarket Press Release

Read More

Product Reviewers and Marketing

Read More

Crypto Press Release Distribution

Read More

Film Festivals Marketing

Read More

India Real Estate Marketing

Read More

Indian Medical Tourism

Read More

Travel Marketing Press Release

Read More

Health Marketing Press Release

Read More

Events Marketing Press Release

Read More

Restaurants Marketing Press Release

Read More

City Business Listing

Read More

World Import Export

Read More

PR Franchise

Read More

Radio Press Release Distribution

Read More

Movies Distribution

Read More

LEAVE A REPLY

Please enter your comment!
Please enter your name here

spot_img

Related articles

India’s travel and tourism sector poised for growth: Projected revenue to reach USD 23.72 bn by 2024 – World News Network

As per Invest India, India announced 100 per cent Foreign Direct Investment (FDI) in tourism-related ventures, including the development of hotels, resorts, and recreational facilities, in a move aimed at fostering growth and development in the tourism sector as of 2023.

Aranthangi’s Elshaddai School Students Achieve Record-breaking Feats and Set Elite World Records – World News Network

Chennai (Tamil Nadu) [India], April 15: Elshaddai Group of Institutions, Aranthangi, proudly presents the Elshaddai World Records Festival 2024, celebrating 4th year of academic excellence. Students showcased exceptional skills, recognized by prestigious record-keeping organizations which includes Elite World Records, Asian Records Academy, India Records Academy, and Tamilan Book of Record, providing inspiration for aspiring achievers. These achievements underscore the school's commitment to nurturing talent and fostering a culture of innovation and excellence.

India’s passenger EV market will hot up in next 3-4 years – World News Network

This EV surge in EV sales can be can be attributed to factors like, government incentive schemes like PLIs, infrastructure development like more EV charging points, increasing urban consumer interest, and government push to meet green target.

Election months typically see less capex utilisation: Bank of Baroda report – World News Network

A capital expenditure, or capex, is used to set up long-term physical or fixed assets.

Paris Appreciation Awards

Read More

World Polls

Read More

Short News

Read More

Indian Bureaucrats

Read More

World Talent Management

Read More

World Brand Ambassadors

Read More

Film Critics

Read More

Influencers

Read More

Video Press Release

Read More

podcasts Press Release

Read More

Social Media

Read More

Colleges Press Release

Read More

Business Press Release

Read More

Critics Press Release

Read More

Fashion Marketing Press Releases

Read More

Gaming Press Release

Read More

Finance Press Release Distribution

Read More

Creative Press Release

Read More

Animals Press Release

Read More

Tech News Press Release

Read More

Cryptomarket Press Release

Read More

Fitness News Press Release

Read More

Gadgets Press Release

Read More

Gardening Press Release

Read More

Stockmarket Press Release

Read More

Product Reviewers and Marketing

Read More

Crypto Press Release Distribution

Read More

Film Festivals Marketing

Read More

India Real Estate Marketing

Read More

Indian Medical Tourism

Read More

Travel Marketing Press Release

Read More

Health Marketing Press Release

Read More

Events Marketing Press Release

Read More

Restaurants Marketing Press Release

Read More

City Business Listing

Read More

World Import Export

Read More

PR Franchise

Read More

Radio Press Release Distribution

Read More

Movies Distribution

Read More