Key Points
Reserve Bank of India (RBI) is unlikely to cut the benchmark interest rate at its upcoming monetary policy review meeting, taking place soon after the announcement of the Lok Sabha election results, amid inflation challenges, said experts..
The Monetary Policy Committee (MPC) may also refrain from rate cut as economic growth is picking up, notwithstanding the elevated interest rate of 6.5 per cent (repo) prevailing since February 2023...
Sanjay Nayar, President of industry body Assocham, too said the central bank is expected to keep the repo rate unchanged in the ensuing MPC meeting as retail inflation remains above the target of 4 per cent...
Aditi Nayar, Chief Economist, ICRA, said the recent inflation data and the outlook for prices of food and commodities had suggested a status quo on the rates and stance in the upcoming June 2024 monetary policy review...
Ranen Banerjee, Partner and Leader Economic Advisory, PwC India, opined that given the uncertainty and risks on the inflation front, commodity prices and oil prices trending higher, the MPC will be constrained to have a status quo on the policy rates...
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