Reserve Bank of India: Today is the last day of the three-day Monetary Policy Review (MPC) of the Reserve Bank (RBI) which started from December 6. Let us know in details>>>
The decision taken in the MPC today will be announced by RBI Governor Shaktikanta Das. A survey said that rising inflation still remains a challenge for the government. In such a situation, RBI can again maintain the policy repo rate at 6.5 percent only. If this happens, it will be the fifth consecutive time when a decision will be taken not to make any change in the repo rate during the MPC.
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In a survey conducted by Reuters, 41 economists have expressed the possibility of retail inflation increasing in November. In fact, the rising prices of onion and tomato in the last few days have increased the government’s concern about inflation. Economist has predicted that this time the inflation rate may increase to 5.70 percent. Earlier in October it had fallen to 4.87 percent. The effect of inflation can also be seen in the current month of December.
There is no expectation of any change in the repo rate.
Apart from this, 9 financial experts have expressed the expectation of RBI not making any change in the repo rate this time too. Before this, the Central Bank has not made any change in the policy rate for four consecutive times. RBI had last increased the repo rate to 6.5 percent in February this year. The Reserve Bank had started the process of increasing the repo rate from May 2022. The repo rate was increased by 2.5 percent from May to February 2023.
What is repo rate?
The rate at which loans are given to banks by RBI is called repo rate. Increase in repo rate means that banks will get loans from RBI at expensive rates. This will increase the interest rates on home loan, car loan and personal loan etc., which will have a direct impact on your EMI.
