Realtors say RBI decision to cut key rates, give 3-month moratorium to boost liquidity, ease debt pressure
The RBI cut repo rate to 4.4 per cent and reduced the cash reserve ratio maintained by the bank by 100 basis points. The reverse repo rate was cut by 90 bps to 4 per cent.
There are speculations that Shaktikanta Das may announce a rate cut
Spot gold was up 0.9 percent at $1,543.60 per ounce by 0248 GMT, having risen as much as 2.8% earlier. The metal fell 3 percent on Friday. US gold futures rose 1.8 percent to $1,544.20 per ounce.
Stocks plunge, dollar battered as Fed's emergency cut spooks investors; steps by global policymakers fail to stem market rout
The US Federal Reserve cut interest rates by 100 basis points on Sunday to a target range of 0 percent to 0.25 percent.
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The coronavirus outbreak that has spread quickly from China to some 80 countries
The Fed’s move was the first unscheduled rate cut since October 2008, when the central bank reacted to a contraction in the economy that had begun the previous year
Fed seen cutting rates amid virus threat, low inflation to cushion economy from effects of coronavirus
Unlike many other central banks, the Fed still has some room to cut interest rates, although officials there have said that they want to see a “material change” in the economic data before they take further action after cutting rates three times last year.
RBI rate committee torn between growth concerns, inflation fears; says timing of any cuts would be critical
The MPC kept rates on hold as expected on 6 February while also retaining its accommodative monetary policy stance as long as it was necessary to revive growth
RBI policy: Inflation concerns seem to have taken front-seat again, expect more rate cuts next year, say experts
RBI’s decision to not lower interest rate has come as a surprise and a bit of a disappointment
Rupee slips 11 paise against dollar in early trade as investors remain cautious ahead of Fed's interest rate decision
A positive opening in domestic equity market and easing crude oil prices supported the rupee and restricted the fall, forex dealers said.
The Reserve Bank of India delivered rate cuts at its previous two meetings, in February and April.
Weakening domestic growth impulses prompted RBI governor Shaktikanta Das to go for rate cut: Minutes of MPC meet
On 4 April, the RBI had reduced the repo rate, or the rate at which it lend to banks, by 25 basis points to 6 percent — the lowest level in one year — on softening inflation.
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After Shaktikanta Das was appointed as the new RBI governor, lending rates were lowered and the policy stance shifted at his first meeting in February
At the 7 February bi-monthly monetary policy review, the MPC in a 4:2 vote, surprised markets with a 25 bps repo rate cut to 6.25 percent and also revised downwards its inflation outlook for next fiscal year.
RBI may change monetary policy stance; likely to move closer to rate cut in April as inflation stays below central bank’s target
While two-thirds of 65 economists expected the RBI to hold the repo rate at 6.50 percent, most respondents predicted the MPC would shift its stance to neutral, according to a Reuters poll.
RBI making a U-turn, to shift stance to neutral in February; interest rates likely to be cut in June: Poll
Over two-thirds of the 65 economists polled between 21-23 January said the RBI would hold its repo rate at 6.50 percent at its next policy review on 7 February.
Ahead of RBI policy, Surjit Bhalla wants MPC to cut rate by 200 bps, says central bank shouldn't be carried away by 6.3% GDP
The RBI MPC’s reluctance to cut rate means that no businesses can survive as the cost of working capital is high and no entrepreneur will be willing to hire new people, Surjit Bhalla said.
Bank of India said customers maintaining savings bank balance up to Rs 50 lakh will get 3.5 percent while those maintaining above Rs 50 lakh will continue to earn an interest of 4 percent per annum.
Lower returns on deposits has already been triggered by State Bank of India (SBI) on savings deposits and this is a big blow considering that so far banks have been lowering term deposit rates but kept the savings rate unchanged.
Wholesale price inflation is expected to have slowed last month to 3.11 percent from 3.85 percent in April