The Reserve Bank of India is expected to raise its main interest rate by a modest 25 basis points to 6.50% at its meeting one week after New Delhi's Feb. 1 budget, before leaving it at that level for the rest of the year, a Reuters poll of economists found.
Those forecasts were unchanged from a poll last month, with predictions for a slowdown in GDP growth to 6.0% in the 2023/24 fiscal year from an expected 6.7% in the current one also barely changed.
Like many other major central banks, the RBI is expected to then pause, waiting for inflation to fall before considering a shift toward a stimulative stance as Asia's third-largest economy slows.by 25 basis points to 6.50%, according to a Jan. 13-27 Reuters poll. The remaining 12 predict no change at the Feb. 8 meeting."They need to pause at some point to see what exactly is the impact of the previous monetary tightening overall on growth and inflation.
In the last full budget before a 2024 general election, Prime Minister Narendra Modi's government is expected to focus on lowering the
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