Indian stocks steady ahead of RBI's monetary policy statement

ANI
08 Jun 2023, 09:57 GMT+10

New Delhi [India], June 8 (ANI): Indian stock indices traded steady on Thursday morning with all eyes now focused on the Reserve Bank of India's (RBI) decision from its bi-monthly monetary policy review.

RBI governor Shaktikanta Das is to read out the monetary policy meeting outcome at 10 am.

A majority of analysts, though, expect the RBI will continue to keep the repo rate unchanged at 6.5 per cent. A consistent decline in inflation (currently at an 18-month low) and its potential for further decline may prompt the central bank to put the brake on the rate again.

The RBI in its April meeting paused the repo rate.

Barring the April pause, the RBI raised the repo rate, the interest rate at which it lends to banks, by 250 basis points cumulatively to 6.5 per cent since May 2022 in the fight against inflation. Raising interest rates is a monetary policy instrument that typically helps suppress demand in the economy, thereby helping the inflation rate decline.

Besides putting a brake on the interest, the RBI may also give a fresh outlook on growth and inflation 2023-24 after GDP numbers for 2022-23 came above estimated figures.

As per the provisional estimates released by the National Statistical Office (NSO) recently, real GDP growth for 2022-23 stood at 7.2 per cent, higher than the 7 per cent projected. (ANI)

Watch latest videos

News RELEASES

Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Entertainment Sun.

More Information

null in null

International

Section

Native leaders, activists oppose detention site on Florida wetlands

EVERGLADES, Florida: Over the weekend, a diverse coalition of environmental activists, Native American leaders, and residents gathered...

Beijing crowds cheer AI-powered robots over real soccer players

BEIJING, China: China's national soccer team may struggle to stir excitement, but its humanoid robots are drawing cheers — and not...

COVID-19 source still unknown, says WHO panel

]LONDON, U.K.: A World Health Organization (WHO) expert group investigating the origins of the COVID-19 pandemic released its final...

Fox faces $787 million lawsuit from Newsom over Trump phone call

DOVER, Delaware: California Governor Gavin Newsom has taken legal aim at Fox News, accusing the network of deliberately distorting...

DeepSeek faces app store ban in Germany over data transfer fears

FRANKFURT, Germany: Germany has become the latest country to challenge Chinese AI firm DeepSeek over its data practices, as pressure...

Canadian option offered to Harvard graduates facing US visa issues

TORONTO, Canada: Harvard University and the University of Toronto have created a backup plan to ensure Harvard graduate students continue...

Movies

Section

Kate Winslet's visit sparks profit jump at Ballymaloe Cookery School

DUBLIN, Ireland: Post-tax profits at Ballymaloe Cookery School rose by 53 percent in 2024 to 135,952 euros, helped by the buzz around...

China: Building a 'Patriots Only' Hong Kong

(New York) - China's government has erased Hong Kong's freedoms since imposing the draconian National Security Law on June 30, 2020,...

Karnataka forms expert panel to probe heart attack deaths in Hassan

Bengaluru (Karnataka) [India], July 2 (ANI): In response to four heart attack deaths within 24 hours in Karnataka's Hassan district,...

Delhi LG Vinai Kumar Saxena attends 'Umrao Jaan' screening, says it's a "difficult film to make in today's time"

New Delhi [India], July 2 (ANI): Lieutenant Governor of Delhi, Vinai Kumar Saxena, hailed the Rekha starrer 'Umrao Jaan' after watching...

"Body of work he has done...": Oscar-winning sound editor Resul Pookutty on working with Anupam Kher in 'Tanvi The Great'

Mumbai (Maharashtra) [India], July 1 (ANI): Ahead of the release of Anupam Kher's directorial 'Tanvi The Great', Oscar-winning sound...

Priyanka Chopra shares fun BTS moments from 'Heads of State' sets, poses with John Cena, Idris Elba

Washington DC [US], July 1 (ANI): Actress Priyanka Chopra offered her fans a behind-the-scenes glimpse from her upcoming Hollywood...