Thu, Aug 02, 2018
The reason behind the RBI repo rate hike was attributed to core inflation, which is at four-year high.
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Wed, Aug 01, 2018
The repo rate is linked to your home, auto and personal loans, in other words retail loans of lenders.
Indian rupee strengthened against US dollar by touching 68.46-mark.
This is the second rate hike by RBI in quick succession.
BankNifty and S&P BSE Bankex have tumbled by more than 165 points right after RBI announced repo rate hike.
The moment RBI announced August policy, Sensex and Nifty 50 gave away nearly 140 and over 35 points.
The decision of the MPC is consistent with the neutral stance of monetary policy in consonance with the objective of achieving the medium-term target for consumer price index (CPI) inflation of 4% within a band of +/- 2%, while supporting growth.
At around 1246 hours, the Indian rupee was trading at 68.603 above 0.114 points or 0.17% against US dollar.
The RBI meet, comprising six-member Monetary Policy Committee (MPC), will be chaired by RBI Governor Urjit Patel .
RBI hiked policy repo rate by 25 basis points in June 2018 policy to 6.25% from previous 6%. This was the first increase in repo rate under Prime Minister Narendra Modi led NDA government regime.
RBI monetary policy 2018: It needs to be noted that prospects of a 50 basis points rate hike scenario hangs on India, but the real question that one should ask is when exactly is it going to take place.
Tue, Jul 31, 2018
However, while the benchmark indices were facing heavy selling pressure, there was one stock that saw massive buying.
Thu, Aug 03, 2017
RBI trimmed down policy repo rate to 6% from 6.25% which is expected to boost housing sector.
Rupee crossed over Rs 63 - level on Thursday post RBI's August policy as foreign investors continue to remain optimistic about the Indian economy.
Indian markets were trading on a negative note on Thursdays after the Reserve Bank of India (RBI) in its third bi-monthly monetary policy review of 2017-18 had lowered the key rates.
Wed, Aug 02, 2017
RBI feels base rate has turned out to be cause of concern which is why it has appointed a group to study various aspects of the MCLR system.
Two days before Reserve Bank of India's bi-monthly policy, SBI had announced rates cut. What will be RBI's call now?
Analysts expect a rate cut in the RBI's August bi-monthly monetary policy, however there were list of several factors that indicated cautious stance in the meet. Policy repo rate for now stands at 6.25%.
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