Barring the latest pause, the US central bank has hiked the interest rate for the tenth consecutive time which was necessitated in the fight against soaring inflation.
"The RBI decision to pause was largely on expected lines. The communication was nuanced and tailored to anchor market expectations for the future in terms of a durable glide path of inflation. The bouquet of policy changes on the development front covers a wide spectrum and prioritizes re
Unchanged repo rate as was expected, lowering of inflation projection, and retention of previously forecasted GDP numbers for 2023-24 were some of the key highlights from the three-day RBI monetary policy review meeting.
On May 19, RBI decided to withdraw the Rs 2,000 denomination currency notes from circulation, but said it will continue to remain as legal tender. However, RBI has advised banks to stop issuing Rs 2,000 denomination banknotes with immediate effect.
Indian stock indices managed to trade on a positive note throughout Wednesday's session and settled substantially high with all eyes now focused on the Reserve Bank of India's (RBI) decision from the ongoing bi-monthly monetary policy review.
Indian stock indices traded marginally higher Wednesday morning, but investors' focus remains on the Reserve Bank of India's decision at the ongoing bi-monthly monetary policy review.
Investors eye policy outcome of the meeting, headed by RBI governor Shaktikanta Das, to be announced Thursday. A majority of analysts expect the RBI will continue to keep the repo rate unchanged at 6.5 per cent.