Shaktikanta Das, governor of the Reserve Bank of India, announced on Thursday that following three days of discussion, the Monetary Policy Committee has opted to hold the key policy repo rate at 6.5 percent, maintaining the status quo for a third straight time. According to Shaktikanta Das, the MPC decided by a margin of 5:1…
On Friday, Indian shares fell for the second consecutive day as a result of persistent profit-taking and a general decrease after the Reserve Bank of India hinted that tighter monetary conditions would linger. The benchmark S&P BSE Sensex dropped 0.35% to 62,625.6 while the blue-chip Nifty 50 closed 0.38% lower at 18,563.40. The benchmarks maintained…
The RBI’s decision to maintain the crucial benchmark policy rate at 6.5 percent on Thursday caused the rupee to pare early losses and close 2 paise weaker at 81.92 (provisional) against the U.S. dollar. Forex traders claimed that after the Reserve Bank of India (RBI) stunned the market by halting the rate hike, the Indian…
The likelihood of interest rates in the US remaining higher for longer has increased because inflation is not expected to decline anytime soon. The Reserve Bank of India may raise interest rates by 25 basis points at the following policy meeting and maintain its hawkish attitude, according to Prasanna Balachander, group head of global markets,…
According to RBI Monetary Policy Committee (MPC) member Jayanth R Varma, India’s economic development appears to be “extremely unstable” and may not be sufficient for the nation to meet the demands of its expanding workforce.In India, according to Varma, he anticipates that inflation would stay high in 2022–2023 but will sharply decline in 2023–2024. Nevertheless,…
The Reserve Bank of India (RBI) on September 30 announced a 50 basis points hike in the repo rate stepping up its fight against persistently high inflation. Repo is the rate at which the central bank lends short-term funds to banks. One bps is one-hundredth of a percentage point. With the latest rate hike, the…
The Monetary Policy Committee (MPC) is expected to unanimously decide to raise the policy repo rate by 50 basis points (bps) at its upcoming meeting in order to rein in above-target inflation and address currency concerns. If the MPC votes for a 50 basis point increase in the repo rate (the interest rate at which…
Wholesale inflation (WPI) in India continued to decline, dropping from 13.93% in July to an 11-month low of 12.41% in August. The wholesale pricing index remained in double digits for the 17th consecutive month in August despite the slight cooling off. The increase in inflation shown in the food articles section, up from 10.77% in…
India’s demand for petroleum products like petrol and diesel will grow by 7.73% in 2022, the fastest speed in the world, an OPEC report said, India’s demand for oil products is projected to rise from 4.77 million barrels per day (BPD) in 2021 to 5.14 million BPD in 2022, OPEC said in its monthly oil…
The Reserve Bank of India on Friday raised the repo rate by 50 basis points, the third straight increase since May in an effort to cool rigid high inflation and defend the rupee. The repurchase rate was raised by 50 basis points to lift the interest rate to the pre-pandemic level. The 5.40% repo rate was last…
