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MNI RBI Preview - June 2024: On Hold, Food Inflation In Focus

The RBI is widely expected to remain on hold at tomorrow's policy meeting

Asia Bank - PreviewReserve Bank of India - PreviewHomepageEM Central Bank ReportsEM Central Bank PreviewEmerging Market News

EXECUTIVE SUMMARY

  • None of the 34 economists polled by Bloomberg see an RBI shift at tomorrow’s policy. This is also our strong bias, which if realized, will see the policy rate held 6.50%. This has been the policy rate since February last year. The cash reserve ratio is also expected to be held steady at 4.50%.
  • Rate cuts for India are seen more towards the end of this year, rather than a near term risk, which is also our bias in terms of the outlook.
  • Full preview here:

    • RBI Preview - june 2024.pdf


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EXECUTIVE SUMMARY

  • None of the 34 economists polled by Bloomberg see an RBI shift at tomorrow’s policy. This is also our strong bias, which if realized, will see the policy rate held 6.50%. This has been the policy rate since February last year. The cash reserve ratio is also expected to be held steady at 4.50%.
  • Rate cuts for India are seen more towards the end of this year, rather than a near term risk, which is also our bias in terms of the outlook.
  • Full preview here:

    • RBI Preview - june 2024.pdf