RBI Monetary Policy: Today Shaktikanta Das will announce the decision on the repo rate, know what is expectations and estimates of experts
Aug 05, 2022 | 7:00 AMRead more: 50 GSS will become ideal in 3 months: GSS with high and loss, discom MD entrusted responsibility
The Reserve Bank of India (RBI) is the last day of the meeting of the Monetary Policy Committee (MPC). The meeting started on 3 August, which will end today. After the meeting is over, Reserve Bank Governor Shaktikanta Das will hold a press conference, in which he will announce the decision taken in the meeting. Let us tell you that the eyes of the whole country are on this meeting of RBI. The press conference to be held today by RBI may make a big announcement about the repo rate.
Earlier, RBI had increased the repo rate by 40 basis points in May. After this, in June, the repo rate in the central bank increased 50 basis points. In this way, the RBI has increased the repo rate from May by a total of 90 basis points. Let us tell you that in comparison, the central bank of America has increased the policy rate by 225 basis points to compete with inflation. The meeting is very important, in which the picture of the budget of common people of the country will be clear. While on one hand the whole country is facing inflation, on the other hand, if there is an increase in the repo rate, then it will directly affect the common people. With the increase in repo rate, the loan received by the bank will become expensive, which will directly affect the budget of the general public. Let us know that the current repo rate is 4.90 percent. Now in such a situation, a big question arises here whether RBI can also announce the increase in repo rate today?
Most economists believe that repo rates in the Reserve Bank meeting 35 to 50 base points ie in the meeting Can increase from 0.35 to 0.5 percent. Economists involved in the survey of Reuters have admitted that the Reserve Bank will increase the rates in the policy review, although the economist could not unanim in the survey that how much this lead could be.
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