Reserve Bank of India Expected to Keep Interest Rates Unchanged Until July, Experts Say
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The Reserve Bank of India (RBI) is expected to keep interest rates unchanged until at least July, according to economists polled by Reuters. India's economy grew 8.4% in the October-December quarter of FY24, surpassing expectations. However, retail inflation remains near the upper threshold of the RBI's target range, which does not signal potential rate cuts. The conflict between Russia and Ukraine has influenced commodity prices and resulted in widespread inflationary pressures. India embarked on a policy tightening cycle in May 2022, increasing the repo rate to 4.4%. Central banks globally raised interest rates to combat inflation, with most reaching their peak in the second half of 2023. Despite indications of potential rate reductions from the US Federal Reserve, India's strong growth ...
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