The Reserve Bank of India has upwardly revised the country’s retail inflation projections for 2023-24 at 5.4 per cent, against 5.1 per cent it projected in its previous monetary policy meeting in June.
In its previous meeting in early June, the central bank’s monetary policy committee unanimously decided to keep the repo rate unchanged at 6.5 per cent, something most analysts had expected. The RBI in its April meeting too had paused the repo rate.
SBI Research expects the Reserve Bank of India to again put a pause on the key policy rates as the central bank’s third monetary policy committee meeting is currently underway. The outcome of the review meeting will be announced on Thursday morning.
In its previous meeting in early June, the central bank’s monetary policy committee unanimously decided to keep the repo rate unchanged at 6.5 per cent, something most analysts had expected. The RBI in its April meeting too had paused the repo rate.
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.
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.
Indian stock indices traded on a positive note Monday morning, extending gains from the previous week on expectations that the RBI will continue to keep the repo rate unchanged in its upcoming monetary policy review meet later this week.
Retail inflation or (Consumer Price Index) peaked at 7.8 per cent in April 2022 to an 18-month low of 4.7 per cent in April 2023, driven by a reduction in food and core inflation. In some advanced countries, inflation had in fact touched a multi-decade high and even breached the 10 per cent