RBI MPC | RBI’s monetary policy review today; Possibility of hike in repo rate
Mumbai: RBI Governor Shaktikanta Das will announce the bi-monthly review of the credit policy today. The repo rate is likely to increase by half a percent.
Similarly, economists are also expressing the possibility that the Governor will also announce that the loose loan policy announced during the Corona period will be completely withdrawn today. Inflation has been higher than the Reserve Bank’s expectations for the last six months.
To control inflation, the interest rate has been increased by 0.90 percent in two phases. Today, an increase of half a percent is expected.
Both an increase in the interest rate and inflation impede economic growth. Therefore, today the Governor will also announce the expected figures of economic growth rate. Everyone’s attention will be on that too. Although domestic inflation is somewhat under control compared to the world, the last three interest rate hikes have significantly increased people’s home loan repayments.
After today’s rate hike, the pocket of common man will be lighter. The real objective of today’s interest rate hike is to bring inflation under control. Experts also believe that if he is successful then the common man will get relief in future i.e. during Dussehra Diwali.