INSUBCONTINENT EXCLUSIVE:
RBI has refrained from revising the repo rate since August 2017 citing inflationary concerns.Mumbai: Rising inflation and high crude oil
prices will weigh on the minds of the six Monetary Policy Committee (MPC) members at their three-day meeting beginning here tomorrow to
decide the key policy rate
The seven-quarter high growth rate of 7.7 per cent in January-March 2018 and forecast of a normal monsoon has reduced the clamour for a cut
above 4 per cent since November 2017
The government has mandated the RBI to restrict the retail inflation at 4 per cent (with a margin of +/- 2 per cent), while supporting
interest rate scenario, several major lenders including SBI, PNB and ICICI Bank have already raised their lending rates from June 1
realities call for caution and not rate action," India's largest lender SBI said in a research report
One of the reasons it cited was that while the GDP numbers are strong, private consumption continues to lose pace, dropping to 6.6 per cent
that he would vote for withdrawal of monetary accommodation in the June policy
rate -- the short term lending rate at which RBI lends to banks -- stands at 6 per cent
Consequently, the reverse repo rate is 5.75 per cent and the marginal standing facility (MSF) rate and the bank rate stand at 6.25 per
negative surprises, an immediate rate hike may be premature, given the lack of clarity on factors like the 2018 monsoon, the minimum support
higher-than-anticipated GDP expansion in Q4 of last fiscal, suggests that a back-ended rate hike cannot be ruled out, which is likely to be
per cent in April.The Wholesale Price Index (WPI) based inflation too rose to 3.18 per cent in April mainly on account of a spike in fuel
prices, as per data released by the government.(This story has not been edited by TheIndianSubcontinent staff and is auto-generated from a
