RBI Keeps Repo Rate Unchanged at 6.5 Percent: Expert Opinions
The Reserve Bank of India (RBI) recently announced that the Monetary Policy Committee has decided to keep the repo rate unchanged at 6.5 percent after a 2-day meeting. The decision has been received positively by experts. Here are some of their opinions:
– According to Dr VK Vijayakumar, Chief Investment Strategist, Geojit Financial Services, the decision to keep the repo rate unchanged and return to stance accommodation was expected.
– HDFC Bank Chief Economist Abheek Baruah has said that RBI has maintained status quo by keeping both the policy rate and stance unchanged.
– On behalf of KV Srinivasan of Profectus Capital Limited, it has been said that keeping the repo rate on hold by the Reserve Bank is a sign of acceleration in growth.
– Parag Sharma, Whole Time Director & Chief Financial Officer, Shriram Finance said that the country has had inspiring success in containing inflation in the last 2 years as a result of Central Bank measures and the resilience of the Indian economy.
RBI Governor Shaktikanta Das has also commented positively on the decision. The CPI inflation forecast for fiscal year 2024 has come down to 5.1 percent from 5.2 percent projected in the previous meeting. The central bank also revised the estimate of the growth rate to 8 percent in the first quarter, while its annual forecast remains at 6.5 percent.
Overall, the decision to maintain status quo by the RBI has been seen as a positive sign for the acceleration of growth in the Indian economy.
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