Noting that that economic growth in 2024-25 is projected to slow by over half a percent relative to 2023-24, Varma said it was a reminder that high interest rates entail a growth sacrifice.
Inflation continues to remain the main concern for the Reserve Bank of India's monetary policy committee members before it goes ahead and loosens its stance on key interest rates.
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Mumbai (Maharashtra) [India], April 16: Shriram Finance Ltd. (SFL), India's largest retail NBFC has increased interest rates on fixed deposits by 0.05 to 0.20 in various maturity tenures. The revised rates have come into effect from 9 April 2024.
Along anticipated lines, RBI kept the policy repo rate unchanged at 6.50 per cent, the seventh time in a row. The repo rate is the rate of interest at which the RBI lends to other banks.
Rating agency Moody's believes an interest rate cut at US Federal Reserve June's meeting is likely off the table given stubborn inflation in the country.
US Federal Reserve officials felt that the key interest rate was likely at its peak and it would be appropriate to loosen the monetary policy stance at some point this year, Minutes of its latest policy review meeting showed.
US Federal Reserve officials expect it would not be appropriate to reduce the key interest rate until they gain "greater confidence" that inflation is moving sustainably toward a comfortable 2 per cent, minutes of its latest monetary policy meeting showed.
entral banks the world over are likely to cut interest rates from June-July this year to bring real rates closer to the pre-Covid range, according to Morgan Stanley.
This is the seventh consecutive meeting that the MPC has maintained a status quo on the repo rate. The repo rate, is the interest rate at which banks draw funds from RBI to overcome short-term liquidity mismatches.
Experts believe the central bank is very likely to maintain the status quo on interest rates along with caution on inflation and the geo-political outlook