The Reserve Bank of India has kept all the rates unchanged. The target
of CPI inflation at 5% by March 2017 is still on. There are no repo rate cuts
possible in the near term because-
- Inflation and industry output data are not supporting a rate cut.
- If there is a weak monsoon the food prices will go up.
- Banks have not yet passed all the previous rate cuts to the consumers.
For more information:http://indianexpress.com/article/business/banking-and-finance/rbi-repo-rate-raghuram-rajan-latest-updates-interest-rates-policy/
Previously, the GDP data came in which showed a growth of 7.9% growth q-o-q and thereby 7.6% for the full fiscal year 2015-16 against 7.2% for the previous fiscal. Seeing this, the Govt has projected a growth rate of 8% for the current fiscal. The growth has been backed by manufacturing.
For more information:http://economictimes.indiatimes.com/news/economy/indicators/indias-growth-at-7-6-in-2015-16-fastest-in-five-years/articleshow/52522153.cms
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