Inflation Rate: reserve Bank of India (reserve Bank of IndiaThe three-day Monetary Policy Committee meeting begins today. To curb the ever rising inflation rate, RBI (reserve Bank of India) may once again increase the repo rate. After hike in interest rates by other major central banks of the world including US Federal Reserve, RBI also increased the repo rate (RBI hike in repo rate) hopefully. MPC (RBI MPC) Recommendations, RBI had hiked the repo rate by 0.50 per cent in June and August.
Sudden hike in interest rates in May
Earlier in May, the central bank had increased interest rates by 0.40 per cent in a surprise meeting. The RBI MPC meeting will be held under the chairmanship of RBI Governor Shaktikanta Das from September 28 to 30. The decision on the rates will be announced on Friday i.e. 30 September. According to experts, the central bank may once again increase the key policy repo rate by 0.50 per cent to a three-year high of 5.9 per cent, from the current 5.4 per cent.
expected to increase by 50 basis points
RBI (reserve Bank of IndiaSince May till now, the repo rate has been increased by 1.40 percent. Bank Of Baroda (Bank Of Baroda) A report stated that the Federal Reserve (federal Reserve System) Given the recent developments in the forex market after the rate hike last week, monetary policy will be monitored more closely this time around. The report predicts that the upcoming MPC in the meeting reserve Bank of India Once again the repo rate can be increased by 0.50 percent.
No option but to raise rates
Interestingly, the government has increased the retail inflation rate.retail inflation rate) Targeted at 4 per cent with a margin of 2 per cent given to RBI. Of Andromeda Loans (andromeda loanWorking President V Swaminathan said the RBI has no option but to hike rates in view of the rate hike in other economies.
Steps to be taken to control inflation
Due to inflationary pressures around the world, many countries have consistently raised interest rates in recent years. India is also connected to the global economy and measures have to be taken to bring inflation under control. This was stated by Anuj Puri, chairman of asset advisory firm Anarock Group.
