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RBI rate, stance to stay on pause: Poll
Mint Mumbai
|August 07, 2023
Inflation has quickened since June, particularly in vegetables
The Reserve Bank of India’s (RBI) monetary policy committee (MPC) is likely to leave interest rates and policy stance unchanged at its meeting this week, according to a Mint survey of 10 economists. The expected status quo will be in the backdrop of a sharp spike in vegetable prices, uneven monsoon and diverging monetary policies worldwide.
All economists expect MPC to keep the repo rate unchanged at 6.5% and retain the stance of withdrawal of accommodation. While the majority expects RBI to maintain a prolonged pause after the August policy, the market is pencilling in a 50% chance of 25 basis points (bps) hike over the next two RBI meetings.
This story is from the August 07, 2023 edition of Mint Mumbai.
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