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| RBI likely to hold rates | | |  Early Times Report
Mumbai, Aug 2: The Reserve Bank of India (RBI) is expected to keep the benchmark repo rate unchanged in its August monetary policy review on elevated inflation risks and pending the closure of the FCNR(B) deposit scheme, a poll of 10 economists and treasury heads has revealed.
Most respondents anticipate that the central bank will maintain its policy stance as 'Neutral' while adopting a hawkish tone amid rising inflation risks from geopolitical tensions, elevated crude oil prices and an uneven monsoon.
Economists said the central bank will remain in a "wait-and-watch" mode as it assesses the evolving inflation outlook.
"As of now, trimmed core inflation remains benign and suggests a status quo is the best policy option for the time being, with caution being expressed through the policy tone," said Aditi Nayar, chief economist at ICRA.
In recent media outings, Governor Sanjay Malhotra has reiterated that inflation will be the central bank's foremost priority going ahead, pointing out that progress of the monsoon is a key factor to watch out for.
Gopal Tripathi, head of treasury at Jana Small Finance Bank said the central bank will wait for the monsoon to play out and for the success of the FCNR (B) scheme.
Mumbai, Aug 2: The Reserve Bank of India (RBI) is expected to keep the benchmark repo rate unchanged in its August monetary policy review on elevated inflation risks and pending the closure of the FCNR(B) deposit scheme, a poll of 10 economists and treasury heads has revealed.
Most respondents anticipate that the central bank will maintain its policy stance as 'Neutral' while adopting a hawkish tone amid rising inflation risks from geopolitical tensions, elevated crude oil prices and an uneven monsoon.
Economists said the central bank will remain in a "wait-and-watch" mode as it assesses the evolving inflation outlook.
"As of now, trimmed core inflation remains benign and suggests a status quo is the best policy option for the time being, with caution being expressed through the policy tone," said Aditi Nayar, chief economist at ICRA.
In recent media outings, Governor Sanjay Malhotra has reiterated that inflation will be the central bank's foremost priority going ahead, pointing out that progress of the monsoon is a key factor to watch out for.
Gopal Tripathi, head of treasury at Jana Small Finance Bank said the central bank will wait for the monsoon to play out and for the success of the FCNR (B) scheme. |
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