The Reserve Bank of India (RBI) MPC is expected to keep interest rates at 6.50% in accordance with the trend of housing returns, according to Governor Shaktikanta Das.
The Reserve Bank of India’s monetary policy committee announced on Thursday that the repo rate will remain at 6.50%. Governor Shaktikanta Das is expected to keep the housing recovery on track.
Monetary Policy at the Reserve Bank: Governor Shaktikanta Das Hopes to Keep Rates at 6.50%; What Do Experts Say?
According to Governor Shaktikanta Das, the Reserve Bank of India (RBI) MPC is expected to retain interest rates at 6.50% in line with the pattern of housing returns.
The monetary policy committee of the Reserve Bank of India announced on Thursday that the repo rate will remain at 6.50%. Shaktikanta Das, the governor, is anticipated to keep the housing recovery on pace.
According to a survey of 75 analysts, the central bank is projected to retain the repo rate at 6.50% at its August 10th policy meeting. Rates are expected to remain unchanged until the first quarter of 2024, after which they will be reduced by 50 basis points by the end of June.
Rates are expected to continue around 6.50% until March 2024, according to many, with some predicting decreases of up to 6.25%.
After a unanimous decision, RBI Governor Shaktikanta Das maintained the repo rate at 6.50% in the June policy. The repo rates were also held steady at the April meeting, following the previous step of a cumulative hike of 250 basis points since May 2022 to rein in inflation.