您现在的位置是:Forex Dealers >>正文
Ignoring inflation, India's central bank kept rates unchanged for the third time.
Forex Dealers51822人已围观
简介On Thursday, the Reserve Bank of India's Monetary Policy Committee (MPC) unanimously decided to ...
On Thursday,Is it a scam to get you to do forex the Reserve Bank of India's Broker Detectorry Policy Committee (MPC) unanimously decided to keep the repurchase rate (INREPO=ECI) unchanged at 6.50%, marking the third consecutive time the committee has decided to maintain the rate. Additionally, the Reserve Bank of India's forecast for domestic economic growth remains unchanged at 6.5%.
However, due to recent seasonal factors causing food prices to rise above normal levels, concerns about inflation have reemerged, leading the central bank to reduce the amount of cash in the banking system.
Since May 2022, India has raised interest rates by 250 basis points to curb surging prices. While the rate level was maintained unchanged in this meeting, the recent rise in food prices due to seasonal factors has once again raised inflation concerns. The Reserve Bank of India temporarily increased the cash buffer banks are required to hold, a move that is expected to push up short-term interest rates in the financial market.
Reserve Bank of India Governor Shaktikanta Das stated that the Reserve Bank maintains a "withdrawal from accommodation" policy stance to ensure inflation gradually aligns with the committee's target while continuing to support economic growth. However, due to seasonal factors leading to food price increases and high energy prices, the central bank's work in curbing inflation is not yet done.
The surge in India's food prices (usually occurring at the onset of the monsoon season) drove overall inflation higher in June, ending a downward trend that lasted for four consecutive months. Affected by the seasonal rise in food prices, the Reserve Bank of India revised its inflation forecast for the current fiscal year from an earlier 5.1% to 5.4% during the August meeting. The inflation rate expectation for the July-September quarter was revised to 6.2%, significantly higher than the previous forecast of 5.2%.
Upasana Bhardwaj, Chief Economist at Kotak Mahindra Bank, said that although we expect the Reserve Bank of India to keep interest rates unchanged for the remainder of the year, seasonal rises in food prices, unpredictable weather conditions, and firm energy prices will challenge the Reserve Bank of India's efforts to curb inflation, leading it to continue maintaining a hawkish expectation management mode.
Risk Warning and DisclaimerThe market carries risks, and investment should be cautious. This article does not constitute personal investment advice and has not taken into account individual users' specific investment goals, financial situations, or needs. Users should consider whether any opinions, viewpoints, or conclusions in this article are suitable for their particular circumstances. Investing based on this is at one's own responsibility.
Tags:
相关文章
Monday, 7/22, a new week, a new beginning.
Forex DealersLast week, gold dropped from 2483 to 2393 before stabilizing. During the Asian trading session today ...
阅读更多Coin Market Master said I need to make a “final payment” of $3,000 before withdrawing.
Forex DealersThey told me I need to pay a “final payment” of $3,000 before I can withdraw my funds. I don’t under ...
阅读更多DOT FINANCE FX has added a $1,800 "capital harmonization fee" to my withdrawal request.
Forex DealersThey claim that this fee is required to align my account with their international liquidity protocol ...
阅读更多
热门文章
- Early Market: Harris Becomes a Candidate, Trump Continues to Perform
- TradeChain Crypto said I need to provide a “profit statement fee” to withdraw. Is this a scam?
- 7staroptions said I need to pay an 'insurance fee' before withdrawing.
- ZenithTrustCorp hit me with a $1,850 “security inspection payment” just as I tried to withdraw.
- Zelionex keeps asking for more deposits. Is this normal?
- UnlimitedTradeFX askedme to pay a $2,300 to release my withdrawal funds.
最新文章
-
Yields on South Korean government bonds face upward pressure amid policy shifts and supply rise
-
AllianceCryptoFXTrade told me today that I need to pay a $2,400 “liquidity adjustment fee.”
-
Breakaway is asking for a 'foreign currency tax fee' before I can withdraw.
-
Real Cash Calling said I need to pay a ‘client retention fee’ to release my funds. Is this normal?
-
Trump promotes diversified pension investments including crypto, gold, and private equity
-
DOT FINANCE FX has added a $1,800 "capital harmonization fee" to my withdrawal request.