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[hfe_template id='11223'] [ad_1] The Reserve Bank of India (RBI) is likely to keep its policy interest rates unchanged for the 16th month and signal a sustained vigil on inflation due to volatile food prices, while an undiminished pace of economic growth obviates the need to lower consumer borrowing costs. Given the prevailing situation where food inflation remains uncomfortably high and blistering heat waves pose risks of depleting water levels and lower crop production, the RBI's Monetary Policy Committee (MPC) may push back rate cuts further into the year than was earlier anticipated. An ET poll of 14 respondents unanimously predicted that at the end of its three-day meeting on June 7, the MPC is likely to keep the repo rate unchanged at 6.50% while maintaining its stance of withdrawal of accommodation. This would mark the eight consecutive policy review in which the RBI has maintained a status quo on the benchmark policy repo rate. The repo rate is the rate at wh...

[hfe_template id='11223'] [ad_1] The RBI’s Monetary Policy Committee (MPC) meeting on June 7, 2024 will be held in the aftermath of the momentous Lok Sabha election results on June 4, 2024. With the BJP poised to romp home, there is likely to be an air of expectation and excitement and a spring in the step. In view of multiple factors, including inter-alia, the global and domestic context, and the emerging inflation scenario, the RBI is likely to maintain a status quo on interest rates during this meeting. Why do we say so? Our view is that both the Government and the RBI will prefer to take stock of the macro-level geopolitical uncertainty caused by an escalation of the recent conflict in the Middle East, financial stress, persistent inflation and slowdown in international trade, the future of globalization, overarching macro-environment, the priorities of the Government and the fiscal glide path aimed at gradually reducing the fiscal deficit. The macroeconomic setting ...