In an effort to lower inflation, the RBI may increase its bimonthly monetary policy review (MPC) by 0.25 percent next month.
This information by RBI may shock you
if you have taken out a home loan or are about to take out a car loan. At the upcoming monetary policy review, the Reserve Bank of India (RBI) may raise the policy rate (including the repo rate and reverse repo rate). In an effort to lower inflation, the RBI may increase its bimonthly monetary policy review (MPC) by 0.25 percent next month. In the report published by DBS Group Research, this hope is expressed.
RBI raised the Repo rate by 2.5 percent.
To combat price increases, the RBI has raised the repo rate by 2.5 percent since May of last year. In February, the repo rate rose by 0.25 percent to 6.50 percent. Radhika Rao, executive director and senior economist at DBS Group Research, stated that the RBI may increase the policy rate by 0.25 percent in April as a result of persistently high retail inflation during an online discussion on economic growth and inflation.
The inflation rate has stayed at or above 6%.
In December 2022, the retail inflation rate was 5.72 percent; in January 2023, it had risen to 6.52 percent. In February, it dipped marginally to 6.44 percent. According to Rao, monetary policy cannot be utilized as a sole tool to combat inflation brought on by supply-side limitations. He declared, “The agricultural industry depends on the current weather conditions. According to the local meteorological department, temperatures could be high over the next three months. It’s crucial that the monsoon in June-July arrives.
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