Sunday, December 3, 2023

RBI Monetary Policy Credit Policy RBI Will Change Repo Rate Or Maintain…

RBI Monetary Policy: This time the common citizens of the country are expecting from the Reserve Bank’s (RBI) Credit Policy (RBI Monetary Policy) that RBI Governor Shaktikanta Das will make such a decision for them, which will save some of the expensive EMI. Can get relief. In the last five credit policies, the RBI has increased the repo rate by a total of 225 basis points or 2.25 per cent.

What is expected from today’s credit policy

For the credit policy of RBI, experts are expecting that RBI can increase the repo rate by maximum 0.25 percent and it can be brought to 6.50 percent. Many financial experts believe that RBI will not increase the rates in this policy. If this happens then people will be able to get some relief from the increasing EMI.

Inflation figures are coming down

In fact, immediately after the Budget 2023-24, this is the meeting of the Monetary Policy Committee and Finance Minister Nirmala Sitharaman has also said that the fiscal deficit will be kept under control. The RBI is keeping an eye on inflation and seeing a fall in December’s wholesale inflation and retail inflation data has raised hopes that the process of increasing interest rates will stop in the country. In December, the retail inflation rate came down to 5.72 percent and the wholesale inflation rate to 5.95 percent, which is within the range of 6 percent set by the RBI.

Last year rates were increased by 225 basis points five times.

Since last May till now, the Reserve Bank of India has increased interest rates by up to 2.25 per cent. This increase shows the attitude of a very aggressive rate policy, but if RBI increases the interest rates in this credit policy as well, then this will be the sixth consecutive time when the policy interest rates have been increased by the Reserve Bank.

The repo rate is currently at 6.25 per cent

The RBI governor, while attending an economy summit on January 13, had said that in the current situation, it is too early to reconsider the inflation target of 4 per cent. Although there is a possibility that Reserve Bank of India Governor Shaktikanta Das would have to face big questions in the meeting of the Monetary Policy Committee this time. The repo rate in the country is at 6.25 per cent and on the basis of this the loan rates of the banks have increased considerably. RBI is also under pressure to maintain liquidity in the system.

S&P Global Ratings gave its opinion

Whether the RBI takes a decision to increase the repo rate in the sixth consecutive MPC meeting or not, it will be known today, but in the meantime the rating agency S&P Global Ratings has given its opinion. S&P believes that the repo rate of 6.25 per cent in India is at its highest level and now there is no need to increase it further.

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