Highlights

  • RBI's rate-setting panel starts discussion on monetary policy; decision on Friday
  • RBI on Wednesday started its three-day deliberations
  • It is the first bi-monthly monetary policy of 2024-25

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RBI Credit Policy: MPC likely to keep Repo rate unchanged for seventh time in a row

The Reserve Bank of India (RBI) last hiked the repo rate to 6.5 per cent in February 2023 and since then it has held the rate at the same level in its last six bi-monthly policies

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      The Reserve Bank of India Monetary Policy Committee is expected to remain status quo on the current rates during the credit policy which will be announced on friday.

      All 38 economists surveyed by Bloomberg anticipate that RBI will keep its benchmark repo rate at 6.5 percent for the seventh consecutive time.

      Despite some speculations about potential rate cuts in the future, most economists anticipate the bank to maintain a hawkish stance. However, any potential easing of rates has been complicated by concerns over inflation due to rising food prices and robust demand in an economy growing at nearly 8 percent.

      RBI Governor Shaktikanta Das has emphasized that any easing measures would only be considered once inflation stabilizes around the 4 percent target on a sustainable basis, diminishing the likelihood of an immediate rate cut.

      RBI's rate-setting panel starts discussion on monetary policy; decision on Friday

      The Reserve Bank of India (RBI) last hiked the repo rate to 6.5 per cent in February 2023 and since then it has held the rate at the same level in its last six bi-monthly policies.

      Experts said the Monetary Policy Committee (MPC) may take cues from the central banks of some major economies, such as the US and the UK, which are apparently in wait-and-watch mode on interest rate cuts.

      Switzerland has become the first major economy to cut interest rates, while Japan, the world's third-largest economy, ended its eight-year period of negative interest rates regime.

      Narendra ModiCabinet reshuffle

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