A rate cut will not be possible for the next 13-14 months due to the inflation outlook, said Mishra, who is also a part-time member of the PM's Economic Advisory Council
The Reserve Bank on Friday morning will announce the decision on interest rate after the conclusion of the three-day monetary policy panel meeting, amid high inflation and weak GDP growth numbers. Experts are of the view that the central bank is likely to opt for status quo on the short-term lending rate (repo), and will possibly tinker with cash reserve ratio (CRR) keeping in mind the mixed economic trends. "Coming up: Monetary Policy Statement by #RBI Governor @DasShaktikanta on December 06, 2024, at 10:00 am," the Reserve Bank announced on social media platform 'X'. Reserve Bank Governor Shaktikanta Das headed six-member Monetary Policy Committee (MPC) started its meeting to decide on the next set of bi-monthly monetary policy on Wednesday. Das is chairing the last MPC meeting of his current term which ends on December 10. The Reserve Bank has kept the repo or short-term lending rate unchanged at 6.5 per cent since February 2023. It last hiked the repo rate to 6.5 per cent in
Union Commerce Minister Piyush Goyal on Thursday said the Reserve Bank of India (RBI) should cut interest rates and give an impetus to growth. Using food inflation, which restricted the RBI from any rate action for two years in the rate setting is a "flawed theory", the Chartered Accountant-turned-politician said at an event hosted by CNBC TV18. "I certainly believe they should cut interest rates, growth needs a further impetus. We are the fastest growing economy in the world, we can do even better," Goyal said. Speaking at the same event later, RBI Governor Shaktikanta Das declined to comment on the senior minister's suggestion, saying that the six-member rate setting panel will take the appropriate call at its next meeting scheduled in December first week. Goyal's demands found a resonance in finance industry veteran Deepak Parekh, who advocated that the RBI cut both its repo rate and consider the cash reserve ratio (CRR). Chief Economic Advisor G Anantha Nageswaran had made the
BS BFSI Summit: While food inflation is a prominent factor in India's economic policy, global influences, particularly from the US Fed, cannot be overlooked, say economists at Business Standard summit
Officials voted unanimously to lower the federal funds rate to a range of 4.5% to 4.75%. The adjustment follows a larger, half-point cut in September
US election results: The brokerage believes Donald Trump's protectionist policies such as higher tariffs, and policies against immigration, could be a curve ball for global trade
The remarks provide a small taste of what's expected to be a broad but closed-door debate of the appropriate path for policy at the Fed's upcoming policy meeting, on Nov. 6-7
Governor Shaktikanta Das has so far dismissed calls for rate cuts, concerned that high food prices will prevent inflation from staying at the 4 per cent target level on a sustainable basis
Markets had priced in a 55 per cent probability of a 25 basis point cut before the decision
US Fed rate cuts: The last time the Federal Open Market Committee (FOMC) cut by half percentage was in 2008 during the global financial crisis
Fed officials are expected to lower interest rates this week for the first time in more than four years
Factors contributing to the buying spree among Foreign Institutional Investors include stabilisation of the Indian rupee and positive sentiment regarding India's growth story
Policymakers led by Governor Tiff Macklem are expected to lower the benchmark overnight rate to 4.25 per cent at their Sept. 4 meeting
The only available yardstick for evaluating the tightness of monetary policy is the real interest rate. The nominal repo rate is useless for this purpose
On Friday, Powell will again deliver his most important policy speech of the year from that closely watched stage
The Reserve Bank of India has kept interest rates unchanged for more than 18 months, with Governor Shaktikanta Das saying last week that food prices remain a worry
Investors are hopeful the RBI will soften its stance on inflation following the recent souring of global market sentiment
Global markets have been roiled in recent weeks by central bank action, with the Bank of England cutting interest rates last week, the Bank of Japan hiking, and the Federal Reserve preparing to ease
Reserve Bank of India (RBI) is likely to keep the key interest unchanged at 6.5 per cent on Thursday, and wait for more macroeconomic data before taking a call on rate cut in line with expectations, experts said. The US Federal Reserve has decided to maintain a status quo on its interest rate for now and indicated there could be monetary policy easing in the coming months. Amid persisting inflationary pressures, RBI will be closely tracking the US monetary policy trajectory before changing its stance on interest rate, which has remained unchanged since February 2023, experts opined. 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 rate). The meeting of the Reserve Bank Governor Shaktikanta Das headed MPC is scheduled for August 6 to 8. Das will announce the decision of the rate-setting panel on August 8 (Thursday). The central bank last hiked the repo rate to 6.5 pe
Thursday's decision was in line with the forecast in a Reuters poll of economists but financial markets had only seen just over a 60 per cent chance of a cut