New RBI guv Malhotra to announce rate decision on Fri; 25-bps reduction expected
Sanjay Malhotra, who is chairing his first Monetary Policy Committee (MPCC) meeting, will announce the decision of the six-member panel on Friday morning, amid widespread expectations of 25 basis points reduction in interest rate after a gap of nearly five years. The Reserve Bank of India (RBI) had last reduced the repo rate by 40 basis points to 4 per cent in May 2020 to help the economy tide over the crisis following the outbreak of the Covid pandemic and subsequent lockdown.
Budget with ET
Tax calculator
But in May 2022 the central bank started a rate hike cycle in view of the Russia-Ukraine war and paused it only in May 2023.
The three-day meeting of the MPC started on Wednesday.
«We expect the MPC to vote for a 25 bps rate cut in the repo rate to 6.25 per cent after an extended pause since February 2023,» DBS Group Research Senior Economist Radhika Rao said.
Another global research firm BofA Global Research also echoed similar view with regard to interest rate cut.
Artificial Intelligence(AI)
Java Programming with ChatGPT: Learn using Generative AI
By — Metla Sudha Sekhar, IT Specialist and Developer
Artificial Intelligence(AI)
Basics of Generative AI: Unveiling Tomorrows Innovations
By — Metla Sudha Sekhar, IT Specialist and Developer
Artificial Intelligence(AI)
Generative AI for Dynamic Java Web Applications with ChatGPT
By — Metla Sudha Sekhar, IT Specialist and Developer
Artificial Intelligence(AI)
Mastering C++ Fundamentals with Generative AI: A Hands-On
By — Metla Sudha Sekhar, IT Specialist and Developer
A
