Latest World News Update
  • Home
  • Business
  • National
  • Entertainment
  • Sports
  • Health
  • Science
  • Tech
  • World
  • Marathi
  • Hindi
  • Gujarati
  • videos
  • Press Release
    • Press Release
    • Press Release Distribution Packages
  • Live Streaming
  • Legal Talk
Font ResizerAa
Latest World News UpdateLatest World News Update
Search
  • Home
    • Home 1
  • Categories
  • Legal Talk
  • Bookmarks
  • More Foxiz
    • Sitemap
banner
Create an Amazing Newspaper
Discover thousands of options, easy to customize layouts, one-click to import demo and much more.
Learn More

Stay Updated

Get the latest headlines, discounts for the military community, and guides to maximizing your benefits
Subscribe

Explore

  • Photo of The Day
  • Opinion
  • Today's Epaper
  • Trending News
  • Weekly Newsletter
  • Special Deals
Made by ThemeRuby using the Foxiz theme Powered by WordPress
Latest World News Update > Blog > Business > RBI unlikely to cut repo rate on August 8 monetary policy: Experts – World News Network

RBI unlikely to cut repo rate on August 8 monetary policy: Experts – World News Network

worldnewsnetwork By worldnewsnetwork August 5, 2024 4 Min Read
Share

New Delhi [India], August 5 (ANI): The Reserve Bank of India (RBI) is unlikely to change the repo rate, say experts. The three-day monetary policy committee (MPC) meeting to decide on policy rates begins tomorrow, August 6.
The RBI’s repo rate, currently at 6.5 per cent since it was last increased in February 2023, is widely anticipated to remain unchanged for the ninth consecutive bi-monthly policy review says experts.
“Our take is that the MPC’s stance in the forthcoming Policy will continue to be “withdrawal of accommodation” and the Repo Rate (last changed in February 2023) will be kept unchanged for the ninth consecutive time” said Manoranjan Sharma, Chief Economist, Infomerics Ratings pre-policy expectations.
The Monetary Policy Committee (MPC), chaired by Governor Das, is set to convene in Mumbai this week to deliberate on key policy decisions amidst a challenging economic landscape.
The central bank’s stance on the benchmark interest rate has garnered significant attention, particularly given the persistent inflationary pressures, especially in the food sector.
RBI Governor Shaktikanta Das had indicated in the last policy briefing that food inflation is still a concern and the regulator is in no hurry to take a decision on rate cut.
Recently a SBI report also noted that the Consumer Price Inflation in India is expected to remain around 5 per cent in the financial year 2024-25 except for September and October month
The consumer price inflation (CPI) for agricultural labourers and rural labourers has surged to 7.02 per cent and 7.04 per cent year-on-year respectively in June 2024, as per latest data from the Union Ministry of Labour and Employment.
The inflation for rural labourers has been on an upward trajectory for the past two months. In April, it was pegged at 6.96 per cent and went up to 7.02 per cent in May. For June inflation for rural labourers has surged further to 7.04 per cent.
“Despite 7-8 percent steady growth in Asia’s third-largest economy (India), all is not well on the inflation front-not by a long shot. These concerns are manifested in inflation breaching the 5 per cent mark in June 2024 (a five-month high of 5.08 per cent in June 2024) and persistently sticky food inflation despite continuously declining core inflation” added Sharma
The wholesale inflation in India, as measured by the Wholesale Price Index (WPI), rose to 3.36 pc (Provisional) in June from 2.61 pc in May, according to the official data released by the Commerce Ministry.
The increase is largely due to higher prices in various categories including food articles, manufacture of food products, crude petroleum & natural gas, mineral oils, and other manufacturing sectors. (ANI)

Contents
WORLD MEDIA NETWORKPRESS RELEASE DISTRIBUTIONPress releases distribution in 166 countriesPress releases in all languagesPress releases in Indian LanguagesIndia PackagesEurope PackagesAsia PackagesMiddle East & Africa PackagesSouth America PackagesUSA & Canada PackagesOceania PackagesCis Countries PackagesWorld Packages

Disclaimer: This story is auto-generated from a syndicated feed of ANI; only the image & headline may have been reworked by News Services Division of World News Network Inc Ltd and Palghar News and Pune News and World News

sponsored by

WORLD MEDIA NETWORK


PRESS RELEASE DISTRIBUTION

Press releases distribution in 166 countries

EUROPE UK, INDIA, MIDDLE EAST, AFRICA, FRANCE, NETHERLANDS, BELGIUM, ITALY, SPAIN, GERMANY, AUSTRIA, SWITZERLAND, SOUTHEAST ASIA, JAPAN, SOUTH KOREA, GREATER CHINA, VIETNAM, THAILAND, INDONESIA, MALAYSIA, SOUTH AMERICA, RUSSIA, CIS COUNTRIES, AUSTRALIA, NEW ZEALAND AND MORE

Press releases in all languages

ENGLISH, GERMAN, DUTCH, FRENCH, PORTUGUESE, ARABIC, JAPANESE, and KOREAN CHINESE, VIETNAMESE, INDONESIAN, THAI, MALAY, RUSSIAN. ITALIAN, SPANISH AND AFRICAN LANGUAGES

Press releases in Indian Languages

HINDI, MARATHI, GUJARATI, TAMIL, TELUGU, BENGALI, KANNADA, ORIYA, PUNJABI, URDU, MALAYALAM
For more details and packages

Email - support@worldmedianetwork.uk
Website - worldmedianetwork.uk

India Packages

Read More

Europe Packages

Read More

Asia Packages

Read More

Middle East & Africa Packages

Read More

South America Packages

Read More

USA & Canada Packages

Read More

Oceania Packages

Read More

Cis Countries Packages

Read More

World Packages

Read More
sponsored by
Share This Article
Facebook Twitter Copy Link Print
Previous Article West Bengal floods: Mamata Banerjee points finger at Jharkhand, Assam CM hits back – World News Network
Next Article “Waqf properties will be used in better way…”: Former Union Minister RK Singh – World News Network
Leave a comment Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Wake up with our popular morning roundup of the day's top military and defense stories

Listen Now

Stay Updated

Get the latest headlines, discounts for the military community, and guides to maximizing your benefits
Subscribe
banner
Create an Amazing Newspaper
Discover thousands of options, easy to customize layouts, one-click to import demo and much more.
Learn More

Explore

  • Photo of The Day
  • Opinion
  • Today's Epaper
  • Trending News
  • Weekly Newsletter
  • Special Deals

You Might Also Like

India’s current account deficit likely to widen to 1.2% of GDP in FY26: Report – World News Network

Business

India’s forex reserves currently at $693.6 billion, inching towards fresh all-time high – World News Network

Business

Output growth forecast for Taiwan semiconductors increased – World News Network

Business

Nitin Gadkari promises single-digit logistics cost in India by 2026 – World News Network

Business
Latest World News Update

Copyright © 2024 World News Network. All Rights Reserved.

Welcome Back!

Sign in to your account

Lost your password?