Reserve Bank of India: The Reserve Bank of India (RBI) has kept interest rates stable in the country since February 2023. Now the RBI Monetary Policy Committee meeting is going to be held between 6th and 8th August. RBI Governor Shaktikanta Das will announce the results of the meeting on Thursday, 8th August. In this meeting, people’s eyes are going to be on the repo rate the most. RBI has kept the repo rate stable at 6.5 percent for almost one and a half years. It is believed that this time also there is going to be no change in the repo rate.
The US Federal Reserve also kept interest rates steady
According to experts, RBI wants to wait for some more time before reducing interest rates. Due to the fear of rising inflation rate, RBI does not want any change in the repo rate at the moment. At present, the US Federal Reserve has also kept the interest rates stable. The Fed Reserve has indicated a reduction in interest rates in the future. In such a situation, RBI can also maintain the wait and watch position in this time’s Monetary Policy Committee meeting.
Waiting for the inflation rate to go down
The country’s economic growth rate is also holding the right pace. In such a situation, RBI will avoid taking the risk of tampering with the repo rate. The central bank had increased the repo rate to 6.5 percent in February 2023. After this, no change has been made in it for 7 times. At present, the inflation rate also remains at 5.1 percent. It is expected to come down further. If inflation comes down, then RBI can also consider reducing the interest rates.
Repo rate cut expected in December meeting
After the last meeting, the RBI Governor had said that we want to keep inflation around 4 percent. Food inflation figures may also weaken after the monsoon. The next two meetings of the Monetary Policy Committee this year are to be held in October, 2024 and December, 2024. Hopes are being expressed. There is a high expectation of a cut in the repo rate in the meeting to be held in December.
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