After increasing the repo rate by 250 basis points (bps) to 6.5 percent between May 2022 and February 2023, the domestic rate-setting panel kept the repo rate unchanged in all the six policy review meetings in 2023-24.
"The upward revision in the National Statistical Office's gross domestic product (GDP) growth estimates for Q1-Q2 FY24, three successive quarters of 8 percent plus GDP expansion, and the CPI (consumer price index) print of 5.1 percent for February 2024 suggest the status quo on rates and stance in the upcoming April 2024 meeting," said Aditi Nayar, chief economist, ICRA.
"ICRA believes the policy stance is unlikely to be changed before the August 2024 MPC review, until there is visibility on the monsoon turnout as well as the sustenance of growth momentum and the US Fed's rate decisions," she said.
Bu hikaye Business Standard dergisinin April 01, 2024 sayısından alınmıştır.
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Bu hikaye Business Standard dergisinin April 01, 2024 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Giriş Yap
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