BENGALURU : The Reserve Bank of India (RBI) will keep interest rates unchanged until at least July, a bit longer than the U.S. central bank is expected to do so, on strong growth and still-elevated inflation, according to a firm majority of economists polled by Reuters.India's economy grew a stellar 8.
FILE PHOTO: A Reserve Bank of India logo is seen inside its headquarters in Mumbai, India, April 6, 2023. REUTERS/Francis Mascarenhas//File PhotoBENGALURU : The Reserve Bank of India will keep interest rates unchanged until at least July, a bit longer than the U.S. central bank is expected to do so, on strong growth and still-elevated inflation, according to a firm majority of economists polled by Reuters.
They were, however, divided on when the first cut would come, with nine of 52 saying next quarter, 24 picking the third quarter, 17 saying the fourth quarter and the rest expecting it at a later time. Median forecasts put the rate at 6.25 per cent by the end of September and 6.00 per cent at the end of this year.
Inflation, at 5.09 per cent in February, will decline to 4.00 per cent in the third quarter before rising, poll medians showed. Price rises were expected to average 5.40 per cent and 4.60 per cent, respectively, in the current fiscal year and the next.
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