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India’s exports to the US are pegged at roughly 2 percent of its GDP, China's is 19 percent and Germany37 percent
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An investigation is underway and based on its findings, appropriate action will be taken and those responsible identified, RBI Deputy Guv Swaminathan Janakiraman has said
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India's retail inflation eased to 3.61 percent in February 2025, its lowest in five months, driven by falling food prices. With inflation below 4 percent, the door is open to another rate cut in April
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India’s MPC has more than enough to ponder in December, beyond a new President in the US
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RBI’s focussed battle with inflation is paying off, but a rate cut still seems to hang in the balance
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The MPC meet scheduled for October 7-9 will mostly likely set the ground for a rate cut two months later. The MPC is set to reverse its rate stance unless big surprises happen in the meantime
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MPC members have differed not just in policy rate changes but also the stance.
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The Reserve Bank of India made a slew of announcements, including the reversal of liquidity facilities on weekends and holidays, the setting up of fintech repository by April, and the enhancement of UPI transaction limit for hospital and educational payments, among others.
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In case of a status quo, interest rates for retail, as well as corporate borrowers, would remain stable.
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The central bank has raised the repo rate by 250 basis points (bps) since May 2022, but has kept it unchanged since February this year.
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While the outlook on inflation is uncertain, what will really move the needle for RBI is how strong the economy remains
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It would not be an exaggeration to suggest that bond yields in India are taking cues more from global bond markets than from domestic developments
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Given his high ratio of dissent, market participants seem to perceive Varma as a constant contrarian voice. Varma’s dissent has not been for the sake of sounding contrary. In fact, many times, he has been able to flag upcoming challenges in his dissenting voice.
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Inflation expectations are keenly eyed by policymakers as anchoring them is critical to ensuring price stability
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Rate hikes, subsidies and price caps are temporary and symptomatic fixes to structurally high inflation. This is not to suggest that RBI should look to ease monetary conditions, but that given enough time, existing monetary policy is already restrictive enough to address our current inflation situation
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With positive real rates and a falling inflation trajectory, it is safe to conclude that the stance of monetary policy too has more or less reached neutral territory
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With the government showing fiscal rectitude in its Budget for 2023-24, there isn’t any hurdle for the central bank in achieving price stability
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Overall month-on-month consumer price inflation was 0.8 percent in October, the highest monthly rise since May this year
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The PMI data for July show a sharp rate of expansion of the Indian economy, albeit with some loss of momentum
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The MPC will now meet on August 3-5, from previously scheduled August 2-4, said the central bank
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With a cautiously optimistic outlook for the country's economy, Varma on Sunday said growth prospects for 2022-23 and 2023-24 financial years are "reasonable" even after taking into consideration the possibility of a long-drawn-out period of geopolitical tensions and elevated commodity prices.
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According to the minutes of the six-member MPC meet released by Reserve Bank of India (RBI) on Friday, the five other members had also expressed a similar opinion amid the ongoing Russia-Ukraine conflict’s impact on the global and domestic economies.
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Fund-raising now will help banks take advantage of a lower interest rate given that the RBI is expected to make continuous rate hikes this fiscal year, and also help address growing credit demand. Some banks, including HDFC Bank, have already received board approval to raise funds.
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With the addition of the geopolitical variable, while the tone of the central bank’s communication strategy has slightly changed, it remains to be seen until how long it manages to temper market insecurities without materially changing its policy stance
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Heightened domestic political uncertainty has contributed to a five percent depreciation in the Pakistani rupee, the State Bank of Pakistan said.
