HomeEconomyRBI hikes rates again, narrow majority of economists see 50 bps hike... Economy RBI hikes rates again, narrow majority of economists see 50 bps hike – Reuters poll By farahat September 23, 2022 0 135 views Share FacebookTwitterPinterestWhatsApp DX +0.% Add to To Watchlist/Remove from Watchlist Add to watch list Add Location Job added successfully: Please name your portfolio type: purchase Sell day Expect: quantity: price Point value: Leverage: 1:1 1: 1: 1: 02 1: 51 Author: Arsh Tushar Mogre BENGALURU (Reuters) – The Reserve Bank of India will raise interest rates again next week, Reuters Economists have a narrow majority in the polls expecting a half-point gain, while others expect a small gain 00 basis points up. It is widely believed that the RBI will raise interest rates in September meeting, although there is disagreement over how far this will accompany inflation accelerating to 7% and rupee depreciation. Despite above-peak inflation, the RBI has lagged many global peers with its full-year target range of 2-6%. Since May, it has raised rates in three steps, one of which was unplanned, totaling 40 basis points and raise the key repo rate to 5.%. In the latest Reuters poll, economists have five actions on the RBI’s next meeting view. slightly over half, of23, which means India The Reserve Bank will conduct 26 basis point increase, reducing the repo rate to 5. 35%. other predict10 basis points increase. The remaining five respondents saw smaller increases ranging from to basis points. While many raised their forecasts from the August polls, and no one expected the RBI to It will keep interest rates unchanged, but there is no immediate explanation as to why central banks will now opt for smaller moves given that most of their peers are going big. The Fed just delivered for the third time in a row 26 basis point hike and has shown no sign of slowing, sending 500 Dollar Index to a fresh two-decade high, the rupee faces more downward pressure. “In the case of India, the twin current account and fiscal deficits could widen after a stronger dollar, JPMorgan chief India economist Sajjid Chinoy said that despite the visible scarring from the pandemic, greater emphasis has been placed on macro stability. ” But food prices have soared in recent weeks , while a hawkish Fed will prompt RBI to act 26 bps instead of bps, at the September meeting, was forced to act again in December, occupying a terminal rate close to 6. %, 00 bps is higher than our expected global recession outcome. “ However r, polls show RBI taking a more dovish stance on interest rates with no clear majority decision on where to stop increasing rate, but the median forecast shows a repo rate of 6. % From each quarter to the end of the year-80. Meanwhile, the rupee has fallen nearly 9% this year to a record low .30/ The dollar fell below analysts’ forecasts in a separate Reuters poll on Wednesday. A weaker currency could make imports more expensive and keep inflation high for longer. The survey also showed that inflation remained above the RBI’s tolerance range until the first season. Although GDP is growing .5%, making India the world’s growing The fastest major economy is expected to halve the pace of expansion this quarter to 6.2%, before slowing further to 4.4% for two quarters. This may be one of the reasons why the RBI has not kept pace with other major central banks. Exceed11% of analysts, of11 answered an additional question, He said slowing economic growth would play a bigger-than-normal role in the RBI’s deliberations on interest rates by the end of the financial year. surveys show that economists expect average growth rates of 6.2% and 6.5% over the next two years. 40 86 Share FacebookTwitterPinterestWhatsApp Previous articleRealme GT Neo 3T goes on sale in IndiaNext articleThis Week in Anime – Cyberpunk Edgerunners is a Certified Crowdpleaser farahat RELATED ARTICLES Economy Philippines eyes maiden sukuk issue in November October 1, 2023 Economy Credit Suisse, Mozambique secure out-of-court ‘tuna bond’ settlement October 1, 2023 Economy US Congress averts government shutdown, passing stopgap bill October 1, 2023 LEAVE A REPLY Cancel reply Comment: Please enter your comment! Name:* Please enter your name here Email:* You have entered an incorrect email address! 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