RBI First Monetary Policy Meeting.
Today, RBI will review the monetary policies in today’s meeting for the new fiscal year 2019-2020.
it will be decided in today’s meeting how much repo rate will be done by the RBI. Previously on 7 Feb
2019, in a monetary policy review meeting RBI, reduced the main policy rate by 0.25 percent to 6.25 percent after a gap of 18 months to boost the economic activities.
Today, The meeting headed by the RBI Governor Shaktikanta Das and the other six members of the Monetary Policy Committee (MPC) will announce their decision on the monetary policies in the afternoon’. It would be the first bi-monthly the monetary policy of 2019-2020
According to what experts have expressed. it is expected that there will be another cut of an off 0.25 percent in the key policy rate of repo by the rbi today, It is believed that another cut is made by the RBI in order to promote the economic activities among global fear impact on the domestic economic growth prospects.
According to the experts, there will be a relief to the borrower because of the Back to back cut in the interest rate provided by the RBI in the election season.
CII Director General Chandrajit said’ later this year, it is likely to have another cut of 0.25% in the policy rate but it will mainly depend upon the inflation and the economic growth figures”. he also said that if the inflation remains in control which will lead to the more cut in rates. Shanti Ekambaram President – Consumer Banking & Member of the Executive Board at Kotak Mahindra Bank Ltd. said that the global and domestic factor will be affected by the policy in the upcoming year.
Credit Source @livehindustan
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