RBI Repo Rate: The Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI) can take a decision to increase the policy rate repo by 0.35 percent in its meeting to be held next week. In a report, American brokerage firm BofA Securities estimated this. The policy stance can be consciously tightened with a hike in the repo rate, the report said. The report has been released before the MPC meeting. On August 3, the committee meeting will start, and on August 5, the monetary policy review will be delivered.
RBI may increase the repo rate!
The Reserve Bank had increased policy rates by a total of 0.90 percent in May and June to control inflation. Retail inflation has moved out of the central bank’s satisfactory level of 2-6 percent. Referring to the April monetary policy review, the brokerage company said that the central bank has effectively increased the policy rate by 1.30 percent.
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Know what the report says?
At that time the apex bank had introduced the facility of permanent deposit. We predict that the Monetary Policy Committee may raise the repo rate by 0.35 percent to 5.25 percent, according to the report. This is more than the pre-covid level. At the same time, by changing the liberal attitude, you can adopt the path of strictness with understanding. It said the MPC may retain the consumer price index-based inflation and real GDP growth forecast for the fiscal year 2022-23 at 6.7 percent and 7.2 percent, respectively.
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