RBI to maintain interest rates steady in August due to high inflation.
The Reserve Bank of India (RBI) is set to hold interest rates steady in August due to persistently high inflation, marking the ninth consecutive meeting without a rate change, according to a Reuters poll. An increase in food prices has driven India's inflation to a five-month high of 5.08% in June, well above the RBI's medium-term target of 4%. A slim majority of economists in the poll expect the first rate cut in Q4, though no specific timeline has been provided by the RBI.
July 31, 2024
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