RBI is going to tell good news..!? Happy news for borrowers!

Will the bank OF INDIA' target='_blank' title='reserve bank of india-Latest Updates, Photos, Videos are a click away, CLICK NOW'>reserve bank of india raise interest rates in the upcoming central bank meeting? Amidst widespread expectations, experts are predicting no rate hike. This is the second month in a row that the inflation rate has fallen below the Reserve Bank's target. Last October-December inflation rate came below the RBI's target. Meanwhile, this trend is expected to continue in the coming months. Due to this, it is expected that the central bank will not increase the interest rate. Even though many countries are experiencing a downturn at the international level, the indian market has continued to recover. Meanwhile, inflation has also started to decline. This can be conducive to further economic growth. Meanwhile, interest rates are expected to remain unchanged in the upcoming central meeting. Meanwhile, the average consumer price index was 6.1%. The Central bank has predicted this as 6.6%. We expect it to reach a more substantial rate in the 4th quarter. Economists predict that this may further revise in the first quarter of the fiscal year 2024. The same data on industrial sector growth was 1.3% in October-November. So this too can have an impact on the market. The same retail inflation rate also fell to a one-year low of 5.72% last December. This is further below the RBI's target. Thus the overall inflation rate remains low.This may also reverberate in the central bank's decision as core inflation, particularly food and fuel, has also started to ease slightly. RBI hiked interest rates by 225 basis points from May 2022. The same US Federal Reserve bank increased the interest rate by 425 basis points. The Ministry of Statistics expects India's growth rate to be 7% this year. The same central bank expects an increase of 6.8%. Overall, most experts expect the indian economy to be on a growth path.

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RBI

Sowmiya Sriram

18/01/2023 01:47 PM