RBI unlikely to cut interest rate June 7: Experts PTI Updated: June 2nd, 2024, 18:18 IST in Business 0 RBI Governor Shaktikanta Das Share on Facebook Share on Twitter Share on WhatsApp Share on Linkedin Mumbai: Reserve Bank of India (RBI) is unlikely to cut the benchmark interest rate at its upcoming monetary policy review meeting, taking place soon after the announcement of the Lok Sabha election results, amid inflation challenges, said experts. The Monetary Policy Committee (MPC) may also refrain from rate cut as economic growth is picking up, notwithstanding the elevated interest rate of 6.5 per cent (repo) prevailing since February 2023.
Also Read FPIs take out Rs 25,586 cr from equities in May on poll jitters, attractive valuations in China 6 hours ago Gautam Adani overtakes Ambani to become richest Asian 6 hours ago The meeting of the Reserve Bank Governor Shaktikanta Das headed MPC is scheduled for June 5 to 7. The decision will be announced June 7 (Friday). The results of the Lok Sabha elections will be announced June 4.
The central bank last hiked the repo rate to 6.5 per cent in February 2023 and since then it has held the rate at same level in its previous six bi-monthly policies. If the interest rate remains untouched again June 7, it would be the eighth time for the RBI to maintain the status quo on the benchmark repo rate.
On expectations from the June policy, Madan Sabnavis, Chief Economist, Bank of Baroda, said economic conditions have largely remained unchang.
