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RBI Repo Rate News: The country’s central bank can once again increase the repo rate (RBI Repo Rate). However, the pace of this increase may be slightly less. If the Reserve Bank of India increases the repo rate, then it will be the first increase of this year. Please tell that tomorrow i.e. from February 6 to February 8, the RBI meeting (RBI MPC Meet) is going to be held. RBI Governor Shaktikant Das (RBI Governor Shaktikant Das) will give information about the decision of the MPC on Wednesday, the last date of the meeting.
In a report released by Barclays, it has been said that there may be an increase of 25 basis points (bps) amid the rapidly falling inflation and reduction in imported prices. If this increase is done in the MPC meeting, then the total repo rate will be up to 6.50 percent (RBI Repo Rate). Right now the repo rate is 6.25 percent.
Repo rate was increased in December
The Reserve Bank had earlier increased the repo rate in December. The central bank had increased by 35 basis points. The London-headquartered banks expect the February rate hike to be the last in this cycle. Inflation is likely to remain around 5-5.5 percent by the end of 2023.
Inflation will fall further
During December 2022, India’s retail inflation came down to a one-year low and remained below 6 per cent for the second consecutive month. It has been said in the report that inflation can come down further. There will be a decline in the inflation rate at the global level including India. According to the report, RBI will reduce its inflation projections. Due to this, there will be a decrease in global commodity prices and domestic food prices.
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