RBI MPC Meet 2023: The repo rate of the Reserve Bank of India may remain unchanged this time also. RBI’s monetary policy meeting is going to be held this week and a decision on interest increase will be taken at the end of the week. In such a situation, there is a possibility of keeping the interest rates unchanged.
RBI is monitoring inflation rate and crude oil. The price of crude oil has increased the fastest in 10 months, due to which there is a signal of strictness. In such a situation, this decision can be taken by RBI. Currently the current repo rate is 6.50 percent and it is expected to be kept at 6.50 percent in the MPC meeting to be held between October 4 and 6.
There will be no change in repo rate for the fourth time
If RBI takes such a decision, it will be the fourth consecutive meeting in which no change has been made in the repo rate. In the previous meetings, RBI had kept the interest rate stable to control inflation and maintain the market condition.
Loan burden may be reduced
If the central bank keeps the interest rate unchanged, then the bank can either reduce the loan interest rate or keep it unchanged. This means that people will have to pay slightly less or the same EMI as they are paying now.
Why can the repo rate increase
DCB Bank Senior Economist Radhika Rao said that global crude oil prices have reached the highest level in November 2022, surpassing RBI’s April estimate of $85 per barrel. The average of September is about 9 percent higher than that of August. At the same time, the number of sellers in the equity market has also increased. A decline has also been seen in the rupee. In such a situation, the rates can be increased or kept stable.
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