The Reserve Bank of India will announce its bi-monthly monetary policy statement on Friday. Financial market participants will be watching this announcement.
There will be a press conference on Friday morning after the statement of RBI Governor Shaktikanta Das. Financial market participants are keeping a close eye on the three-day bi-monthly Monetary Policy Committee (MPC) meeting which started on Wednesday.
RBI can keep the repo rate as before: Experts
Economic experts believe that despite retail inflation, RBI will not make any change in the repo rate by keeping it as before. If this happens, then the boom in house and car sales will continue, because customers are feeling comfortable in buying a house at the current interest rates. That is why housing loans have a 76 percent share in the retail loans taken in the current financial year.
Retail inflation rate can be up to 5.5 percent in the current financial year
Vehicle sales are also increasing continuously and it is believed that house and car purchases will gain further momentum during the festive season. RBI will announce the rates on Friday after the monetary policy committee meeting.
In August, the Reserve Bank of India also did not make any change in the repo rate and maintained it at 6.5 percent. Retail inflation may remain up to 5.5 percent in the current financial year. Retail inflation in August was 6.8 percent. It is likely to decrease in September.
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