India's Reserve Bank likely to keep interest rates steady at 6.5%, despite economic slowdown.

India's Reserve Bank is expected to keep its policy rate at 6.5% during its upcoming meeting, following a slowdown in GDP growth to 5.4% in the second quarter of FY25, down from 6.7%. However, HDFC Bank predicts a rate cut may be possible in February, as rural demand is forecast to recover due to strong agricultural performance and government spending. Despite the economic slowdown, the RBI plans to maintain its current rate, signaling a cautious approach.

November 29, 2024
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