The dream of getting a house and a car will come true, news of relief can come from the MPC meeting.
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The dream of getting a house and a car will come true, news of relief can come from the MPC meeting. RBI MPC Meeting Updates: Ever since crude oil has become expensive due to the Ukraine War, the Reserve Bank has been continuously trying to stop the fire of inflation. Once again the three-day meeting of the Monetary Policy Committee of the Reserve Bank of India (RBI MPC Meeting) is starting from June 6. This meeting will continue till June 8. Let us tell you that the Reserve Bank of India (RBI) has been increasing interest rates continuously since May last year. In the last one year, the Reserve Bank has increased the repo rate by 2.5 percent, in such a situation, the rates of home and car loans have reached double digits. It is expected that on June 8, the RBI governor will announce the repo rate, in which the repo rate may be announced lower. Not us, but in the latest report of Oxford Economics, it has been estimated that the Reserve Bank of India (RBI) may cut the policy rate in the fourth quarter of this year.
likely to cut in the fourth quarter of 2023
The dream of getting a house and a car will come true, news of relief can come from the MPC meeting. The global forecasting company said that there are several factors that could lead the central bank to make its stance more accommodative. Oxford Economics said inflation is already moderating and expectations for consumer inflation are coming down. The forecasting firm said that we are updating our view for India and the first interest rate cut by the Reserve Bank could be in the fourth quarter of 2023. Oxford Economics said that due to mixed factors, the Reserve Bank may change its stance and become accommodative on the policy front.
Things can improve after Diwali
The report said that the Monetary Policy Committee (MPC) will first see that inflation is stabilizing in the middle of its target. After that she will change her attitude. We believe it will happen before the end of the year. Oxford Economics said that economic indicators like PMI (Purchasing Manager Index) data, GST collections show that activity in India is still strong. It is noteworthy that the Reserve Bank of India has got the target of keeping the retail inflation in the range of four percent (two percent up or down). In April, the Reserve Bank surprised everyone by keeping the repo rate at 6.5 percent.The dream of getting a house and a car will come true, news of relief can come from the MPC meeting.
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