ANI
08 Jun 2023, 09:57 GMT+10
New Delhi [India], June 8 (ANI): Indian stock indices traded steady on Thursday morning with all eyes now focused on the Reserve Bank of India's (RBI) decision from its bi-monthly monetary policy review.
RBI governor Shaktikanta Das is to read out the monetary policy meeting outcome at 10 am.
A majority of analysts, though, expect the RBI will continue to keep the repo rate unchanged at 6.5 per cent. A consistent decline in inflation (currently at an 18-month low) and its potential for further decline may prompt the central bank to put the brake on the rate again.
The RBI in its April meeting paused the repo rate.
Barring the April pause, the RBI raised the repo rate, the interest rate at which it lends to banks, by 250 basis points cumulatively to 6.5 per cent since May 2022 in the fight against inflation. Raising interest rates is a monetary policy instrument that typically helps suppress demand in the economy, thereby helping the inflation rate decline.
Besides putting a brake on the interest, the RBI may also give a fresh outlook on growth and inflation 2023-24 after GDP numbers for 2022-23 came above estimated figures.
As per the provisional estimates released by the National Statistical Office (NSO) recently, real GDP growth for 2022-23 stood at 7.2 per cent, higher than the 7 per cent projected. (ANI)Get a daily dose of Leeds Times news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Leeds Times.
More InformationBRUSSELS, Belgium: European Union antitrust regulators are examining fees imposed by payment giants Visa and Mastercard, Bloomberg...
DUBLIN, Ireland: Nearly 500 children who had hip surgery at two Dublin hospitals between 2021 and 2023 may need to be recalled for...
BRUSSELS, Belgium: U.S. drugmakers are charging significantly more for new treatments, particularly those targeting rare diseases,...
WASHINGTON, DC - U.S. President Donald Trump re-ignited his trade war on Friday with an extraordinary attack on the European Union...
DUBLIN, Ireland: The number of people employed in social media companies in Ireland has dropped by 11 percent since 2022, according...
DUBLIN, Ireland: Farmers and co-op leaders gathered outside the European Commission offices in Dublin this week, voicing opposition...
BRUSSELS, Belgium: European Union antitrust regulators are examining fees imposed by payment giants Visa and Mastercard, Bloomberg...
WASHINGTON, D.C.: The U.S. Army plans to change the records of transgender soldiers to list only their sex at birth, according to a...
WASHINGTON, D.C.: The Federal Aviation Administration (FAA) said this week that it will require airlines to reduce the number of flights...
GAZA - The home of a doctor working in the emergency room at the Nasser Medical Complex in southern Gaza was struck by Israel Air...
ORLANDO, Florida: For years, Universal Orlando played second fiddle to Disney's sprawling empire in Central Florida. Now, with the...
WASHINGTON, D.C.: The U.S. Transportation Department is expected to say that fuel economy rules created under President Joe Biden went...