The 2nd quarter monetary policy review due in September is expected to see another rise in major policy rate by apex bank, RBI.
This estimate has been given by consultancy company Dun & Bradstreet. Arun Singh, Dun & Bradstreet(D&B), India Senior Economist said, ”In order to tackle the mounting inflationary pressures, we expect that the RBI would further tighten its monetary policy stance in the mid-quarter review of monetary policy scheduled in September”.
The main concentration of RBI now is to regulate the persistent pressure of rising inflation. The banking regulator has hiked policy rates, repo and reverse repo by 50 bps and 75 bps respectively within 3 months.
The current repo rate is at 5.75% while reverse repo rate is at 4.50%.
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