Reserve Bank will issue a monetary policy statement today. Rudra Investment Experts believe that the more likely it is that the Reserve Bank will not make any changes in the rates. Prices and oil prices are on the rise. Apart from this, there have been many announcements in the budget, which could increase the pressure on fiscal deficit. In such a situation, the scope of reduction in rates for the Reserve Bank is very low. In such a situation, people will have to wait for cheap loans and relief in the EMI.
Inflation and oil prices may increase
Economist Pai Panindkar told moneybhaskar.com that there is no possibility of a change in rate in the monetary policy. Inflation has reached 5.3 percent. Oil prices are on the rise. Apart from this, there have been many such announcements in the budget, the implementation of which is likely to increase the fiscal deficit. There is no scope for rate cuts. In spite of this, if the Reserve Bank cuts the rate, then it will not exceed 0.25%. BNP Paribas said in its report on Tuesday that it is almost certain that the Reserve Bank will not make any changes in the repo rate in monetary policy.
Cuts in repo rate in August
The Reserve Bank had cut the repo rate by 0.25 percent in August and the repo rate was 6 percent. The current repo rate is at the lowest level in the last 6 years. After this, there is no change in the repo rate in the next two monetary policies.
Do not expect repo rate cuts
Rajkiran Rai, managing director and CEO of Union Bank of India said that I believe the Reserve Bank should not change rates. At present, there is no room for the cut in rates. Apart from this, the rates should not rise in the Reserve Bank. Apart from this, senior economist of Kotak Institutional Equities Suwedep Rakshit also hopes that the policy rates will not change any of the policy rates. Apart from this, the Reserve Bank will also consider the budget as to how it will affect fiscal deficit and inflation.
Rising in growth
Chief economic advisor Arvind Subramanium had said after the Economic Survey that growth is on the rise and inflation is on the rise so the Reserve Bank's scope for cutting rates will be very low. In his budget speech, Finance Minister Arun Jaitley had said that 6.3 percent of GDP growth in the July-September quarter of the current financial year is indicating that the economy is on the path to fortunes.
5.21 percent in December
Due to rising food item prices, retail inflation crossed 5 per cent in December to 5.21 per cent. In November, retail inflation based on consumer price index was 4.88 per cent and in November it was 3.41 per cent.
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