With the inflation rate hovering around 5 per cent, it is premature to have any discussion on rate cuts, Reserve Bank of India (RBI) Governor Shaktikanta Das said on Thursday.
Das said he would prefer not to provide any guidance that might mislead market players, stakeholders, and others. "The last (inflation) print was 4.7 per cent (May), and the June inflation is expected to be out tomorrow (Friday). That is also expected to be, (according to) the survey done by various wire services, that is likely to be close to 5 per cent (June). So when we are at 5 per cent and our target is 4 per cent, I would feel it is too premature to talk about interest rate cuts," he said in an interview with CNBC TV18.
"I would not like to give any kind of forward guidance that would lead market players, stakeholders and others to board the wrong train," he added. The domestic rate-setting panel has kept the repo rate unchanged at 6.50 per cent since February 2023 while maintaining the stance of the policy "withdrawal of accommodation".
In the same breath, he said a change in stance too was premature because the pace of moderation in price rise had been slow.
This story is from the July 12, 2024 edition of Business Standard.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the July 12, 2024 edition of Business Standard.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
![FEF and Dharmatic Entertainment Collaboration Unveiled at the 3rd FEF Annual Gala](https://reseuro.magzter.com/100x125/articles/18959/1826697/cQsG7yGvY1725915816940/FEF-AND-DHARMATIC-ENTERTAINMENT-COLLABORATION-UNVEILED-AT-THE-3RD-FEF-ANNUAL-GALA.jpg)
FEF and Dharmatic Entertainment Collaboration Unveiled at the 3rd FEF Annual Gala
The Fashion Entrepreneur Fund (FEF) and Dharmatic Entertainment Pvt.Ltd., the digital content arm of Dharma Productions, announced an exciting new alliance during the 3rd FEF Annual Gala on September 05.
![Guindy Race Course jockeys for survival](https://reseuro.magzter.com/100x125/articles/18959/1826697/Ji7f34o13GMsm3uccbGsys/GUINDY-RACE-COURSE-JOCKEYS-FOR-SURVIVAL.jpg)
Guindy Race Course jockeys for survival
The hearts of horse racing enthusiasts across India have been racing since Monday morning after Tamil Nadu's revenue department sealed the Madras Race Club in Guindy, the country's oldest horse racing venue.
![Raj Kapoor's restored Awara to musings from Manipur](https://reseuro.magzter.com/100x125/articles/18959/1826697/FWLYmvVENxY0oJWPCswsys/RAJ-KAPOORS-RESTORED-AWARA-TO-MUSINGS-FROM-MANIPUR.jpg)
Raj Kapoor's restored Awara to musings from Manipur
World premiere to include Indian film Superboys of Malegaon on the life of auteur Nasir Shaikh
Smart choice: Consider interest rate, collateral, and co-signer
The number of Indian students pursuing higher education abroad doubled between 201920 and 2023-24, according to a recent report by CRISIL Ratings.
![Brokerages bullish on Bajaj Housing Finance](https://reseuro.magzter.com/100x125/articles/18959/1826697/Tiz5Q04UXbKqXDmAnxdsys/BROKERAGES-BULLISH-ON-BAJAJ-HOUSING-FINANCE.jpg)
Brokerages bullish on Bajaj Housing Finance
BHFL's ₹6,560 cr IPO opened for subscription on Monday
![Market buoyancy spurs IPO rush](https://reseuro.magzter.com/100x125/articles/18959/1826697/lpBGQVm4P1725915247492/MARKET-BUOYANCY-SPURS-IPO-RUSH.jpg)
Market buoyancy spurs IPO rush
Since July over three dozen companies from diverse sectors have filed their DRHPs
Ather Energy looks to raise ₹3,100 cr
Electric two-wheeler (e2W) maker Ather Energy has submitted preliminary papers to the Securities and Exchange Board of India to raise funds through an initial public offering (IPO).
Linde India seeks SAT relief on valuation diktat
Industrial gases and engineering firm Linde India has sought relief from the Securities Appellate Tribunal regarding the valuation diktat stated in an order passed by the Securities and Exchange Board of India (Sebi).
![FVCIs now get FPIs' governance playbook](https://reseuro.magzter.com/100x125/articles/18959/1826697/OAsCWO52smbordCNtrhsys/FVCIS-NOW-GET-FPIS-GOVERNANCE-PLAYBOOK.jpg)
FVCIs now get FPIs' governance playbook
Sebi mandates disclosure of beneficial ownership, allocates registration and monitoring responsibilities to DDPS
Growth recovery, higher margins to drive gains for IT companies
In previews of Q2FY25 and beyond, industry analysts are expecting a turnaround for IT services.