Jump to content
  • Sign Up
×
×
  • Create New...

India’s central bank holds rates as expected, shifts stance to ‘neutral’


Pelican Press
 Share

Recommended Posts

  • Diamond Member

This is the hidden content, please

India’s central bank holds rates as expected, shifts stance to ‘neutral’

People walk past Reserve Bank of India signage in front of an installation stall at Global Fintech Fest in Mumbai, India, on Aug. 28, 2024.

Indranil Aditya | Nurphoto | Getty Images

The Reserve Bank of India (RBI) kept its key interest rate unchanged on Wednesday, as widely expected, but tweaked its policy stance to “neutral,” opening the door for rate cuts amid early signs of a growth slowdown in the economy.

The Monetary Policy Committee, which consists of three RBI and three external members, kept the repo rate unchanged at 6.50% for a tenth straight policy meeting.

The committee, however, changed its policy stance to “neutral” from “withdrawal of accommodation.”

Rates were predicted to be kept on hold by 80% of the 76 economists polled by Reuters. The MPC last changed rates in February 2023, when the policy rate was raised to 6.50%.

Annual retail inflation remained below the central bank’s target of 4% for a second consecutive month, clocking in at 3.65% in August but higher than the revised 3.60% in July and economists’ forecast of 3.5%.

While the recent escalation of tensions in the Middle East has shrouded the

This is the hidden content, please
on the inflation trajectory, concerns about economic growth have also begun to emerge.

High-frequency indicators such as the manufacturing PMI slowed to an eight-month low in September, while the services PMI eased to a 10-month trough, latest data showed. India’s overall growth slowed to 6.7% in the June quarter.



This is the hidden content, please

#Indias #central #bank #holds #rates #expected #shifts #stance #neutral

This is the hidden content, please

This is the hidden content, please

Link to comment
Share on other sites


Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

 Share

  • Recently Browsing   0 members

    • No registered users viewing this page.

Important Information

Privacy Notice: We utilize cookies to optimize your browsing experience and analyze website traffic. By consenting, you acknowledge and agree to our Cookie Policy, ensuring your privacy preferences are respected.