Repo Rate: The RBI is anticipated to raise interest rates in tandem with the US Fed. Its direct impact will be on bank customers who are making loan EMI payments. Home loans, auto loans, and personal loans will become more expensive as a result.
Interest Rates: The retail inflation data for America have also been issued after those for India. Both nations continue to be concerned about inflation. Both countries will experience its effects. The RBI is anticipated to raise interest rates alongside the US Fed. Its direct impact will be on bank customers who are making loan EMI payments. Home loans, auto loans, and personal loans will become more expensive as a result. You will have to make greater EMI payments if you already have a mortgage.
The percentage of retail inflation rise to 7%.
The US stock market as well as the Indian stock market are anticipated to be affected by the US inflation rate, which is now at a record high. The retail inflation rate for the month of August in India, which was announced on September 12, has jumped to 7%. In July, it stood at 6.7 percent. The last three months had shown a decrease in retail inflation. This percentage was 5.3 percent in August of the previous year. On the other hand, CPI numbers were made public on Tuesday in the US. As a result, in August, the monthly CPI (Consumer Price Index) increased by 8.3 percent. The rate of inflation in this area in June was 9.1 percent, which was the highest in 40 years.
It is assumed that the interest rate increase is fixed.
It is anticipated that the UC Fed Reserve will raise interest rates by 0.75 percent based on the most recent US CPI statistics. The Fed will announce the change in interest rates at its meeting on September 21st, which is scheduled to take place next week. This year, the US Fed has declared four interest rate changes. Let us inform you that the central bank of any nation raises interest rates in an effort to curb inflation. The interest rate has gone up three times since May in India as well.
Three times in a row, the policy rate was raised, on the
On the other hand, the Reserve Bank of India (RBI) may raise the repo rate once again in the Monetary Policy Review (MPC) due this month as a result of the rise in inflation. The RBI has been given the mandate by the government to maintain retail inflation at 4% with a tolerance of 2%. On September 28–30, the Monetary Policy Committee (MPC), which is chaired by the governor of the Reserve Bank, will convene. Three times in a row, the policy rate was hiked by 1.40 percent. ICRA Chief Economist Aditi Nair stated that the increase in food costs is primarily to blame for the monthly increase in retail inflation. In the September 2022 monetary policy review, the MPC is anticipated to rise by 0.5 percent, he said.
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