Key Points
After increasing the repo rate by 250 basis points (bps) to 6.5 per cent between May 2022 and February 2023, the central bank has maintained the repo rate at 6.5 per cent since April 2023...
Strong evidence of emerging economy central bank rate actions are predicated by advanced economy central bank rate actionsIndia is an exceptionfirst RBI cut in Q3FY25such rate cut cycle likely to be shallow, stated SBI in its report, adding that the stance should continue to be withdrawal of accommodation...
The upward revision in the National Statistical Offices gross domestic product (GDP) growth estimates for Q1-Q2 FY2024, three successive quarters of 8 per cent plus GDP expansion, and the CPI (consumer price index) print of 5.1 per cent for February 2024, suggest the status quo on rates and stance in the upcoming April 2024 meeting, said Aditi Nayar, chief economist, ICRA...
Both repo rate and stance (are) likely to remain unchanged under base case scenario; but cant rule out the possibility of a change of stance to neutral, given past evidence of the central bank surprising with its decision, particularly in April, said Kaushik Das, Chief Economist, India & South Asia, Deutsche Bank...
Santanu Sengupta, Chief India Economist, Goldman Sachs India said, With 1HCY24 headline inflation still above the RBIs target, we maintain our view that the RBI will keep the policy repo rate unchanged at 6.5 per cent at the April 5 meeting, sounding optimistic on growth, acknowledge Jan-Feb average core inflation at 3.5 per cent, but continue to reiterate the commitment to the 4 per cent headline inflation target...
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