The overall liquidity remains in surplus, with average daily absorption under the LAF increasing to ₹1.6 lakh crore during December-January from an average of ₹1.4 lakh crore in October-November. Urban demand exhibited resilience as reflected in healthy passenger vehicle sales and domestic air passenger traffic Domestic demand has been sustained by strong discretionary spending. The global commodity price outlook, including crude oil, is subject to uncertainties on demand prospects as well as from risks of supply disruptions due to geopolitical tensions. While prospects for the rabi crop have improved, especially for wheat and oilseeds, risks from adverse weather events remain. Varma voted against this part of the resolution -The next meeting of the MPC is scheduled during April 3, 5 and 6, 2023," said the statement. The December 1-3 poll of 50 economists showed the RBI would hold its benchmark interest rate at 4.00 and the reverse repo rate at 3.35 at its December 8 meeting. Michael Debabrata Patra and Shri Shaktikanta Das voted to remain focused on withdrawal of accommodation to ensure that inflation remains within the target going forward, while supporting growth. The next meeting of the MPC is scheduled during September 28-30, 2022. The RBI also raised both the standing deposit. The RBI was expected to follow up its unscheduled 40 basis point repo rate hike in May to 4.40 with another move at the policy meeting on June 8 - a 'no-brainer. So, whether Powell will be flexible on the inflation target. The banking sector needs some support, some sort of vitamin. The MPC decided to remain focused on withdrawal of accommodation to ensure that inflation remains within the target going forward, while supporting growth. For the next FY, the board projected inflation to ease further to 5.3 with an economic growth rate of 6.4. If the Fed indicates that it will postpone its plan of meeting the 2 inflation target in 2024 rather than 2023, then it will be a big relief for the markets, said Sunil Damania, chief investment officer, MarketsMojo. Varma voted against the repo rate hike," said the RBI statement. Michael Debabrata Patra and Shri Shaktikanta Das voted to increase the policy repo rate by 25 basis points. The MPC members voted on the resolution to increase the policy repo rate to 6.50% in a ratio of 4:2.
0 Comments
Leave a Reply. |