The Reserve Bank of India (RBI) may increase the repo rate for the fourth time in a row to control inflation. For this, he can also take the opinion of the central banks of other countries including the US Federal Reserve.
RBI has increased the repo rate by 140 basis points (bps) since May. Experts say the central bank can now take it to a higher level (5.9 percent) in three years with an increase of 50 basis points.
The central bank had increased the repo rate by 40 basis points in May and by 50 basis points in June and August. It currently stands at 5.4 percent.
Consumer price-based (CPI) retail inflation, which started showing signs of moderation in May, rose again to 7 percent in August. The central bank takes into account retail inflation while formulating its bi-monthly monetary policy.
The RBI Governor-led Monetary Policy Committee (MCP) is scheduled to begin its three-day meeting on Wednesday. The decision of this meeting will be announced on Friday 30 September.
The US central bank, the Federal Reserve, recently announced a 0.75 percent increase in interest rates to control inflation. After the third consecutive hike, the bank's benchmark funds rate has increased from 3 percent to 3.25 percent. Central banks in Britain and the European Union have also raised rates to control inflation.
Madan Sabnavis, Chief Economist, Bank of Baroda, said inflation in India remains at a high of around 7 percent and is unlikely to come down anytime soon.
RBI has been tasked by the government to ensure that retail inflation remains at 4 percent. Dhruv Aggarwal, Group CEO, Housing.com, says that amid resilient economic expansion and strong credit growth, controlling inflation will continue to be the RBI's biggest concern.
Banks will also hike home loan interest rates due to any increase in rates, he said. But we think that it will not have much impact, as the demand for the property has not been strong. This demand will pick up further during this festive season.
ICRA's Chief Economist Aditi Nair also expects a 50 basis point increase from the Monetary Policy Committee in September 2022.
PM Modi's road show before BJP meeting: National Working Committee meeting in Delhi, strategy for 9 state elections will be made
BJP's national executive meeting is being held in Delhi on 16 and 17 January. The meeting will be attended by Prime Minister Narendra Modi, Home Minister Amit Shah, Defense Minister Rajnath Singh, and
Such devastation due to flood in America, Emergency had to be imposed: 19 died, loss of 2 lakh crores; Know the atmospheric river which is bringing storm
The US state of California is in the grip of a dangerous storm. So far 19 people have lost their lives due to the storm that has been going on for two weeks. How serious the situation in California is
India-China: China said- the situation on LAC is normal, both sides are talking through diplomatic and military channels
China has said that the situation on the India-China border is normal. Both sides are maintaining smooth communication on border issues. Both countries are in touch with each other through diplomatic
INC: Congress's taunt on PM Modi's promise to make India the third largest economy - this is certain, no matter which government
Congress general secretary Jairam Ramesh took a dig at Prime Minister Narendra Modi's statement that the country is "guaranteed to become the third largest economy". He said that India is set to
Huma Qureshi's cousin brother was murdered in Delhi, and you will also be surprised to know the reason.
A shocking incident took place in Delhi's Nizamuddin area on Thursday night. The entire dispute allegedly arose over a parking dispute. According to reports, the incident took place at around 11 pm in
Salman Khan Firing Case: Another success for police, sixth accused arrested; Lawrence Bishnoi gang member arrested from Haryana
Mumbai Police has arrested the sixth accused in the firing case at Salman Khan's house. He is a member of the Lawrence Bishnoi gang. The accused, identified as Harpal Singh (34), a resident of
Violence over Tipu-Aurangzeb in Kolhapur: Four companies of SRPF, 300 constables-60 officers deployed, situation under control now
Things are slowly becoming normal in Kolhapur, Maharashtra. Most of the shops were seen open in the city on Thursday. At the same time, people were seen buying items of daily need. A senior police
Sam Bahadur Vs Animal: Will Vicky beat Animal with a global opening of Rs 100 crore? Know the status of booking
Ranbir Kapoor and Bobby Deol starrer 'Animal' has been in the headlines ever since its teaser was released and the way the news of its booking is coming in, it seems that it is going to perform
The Bigg Boss Kannada 12 house was evacuated, but the ban has now been lifted; Kichcha Sudeep thanks the Deputy CM.
Superstar Kiccha Sudeep's show "Bigg Boss Season 12" is making headlines in Karnataka these days. Recently, the Bigg Boss Kannada Season 12 house was sealed due to environmental violations. Now,
Coronavirus: First death due to corona in Delhi; More than 2500 active cases across the country, seven people died.
There is an increase in corona cases across the country. According to the Ministry of Health, the number of active cases of corona in the country has crossed 2500. The Union Health Ministry has said
