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Top related persons:
Shaktikanta Das - 1 OIS - 1 Das - 1 Michael Patra - 1 Suvodeep Rakshit - 1 Gaura Sen Gupta - 1 Swati Bhat - 1 Sudipto Ganguly - 1
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Delhi India Anushree MUMBAI
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REUTERS - 1 Reserve Bank of India's - 1 MPC - 1 Reserve Bank of Australia - 1 Bank of Canada - 1 Reuters Graphics Reuters - 1 IDFC - 1 Thomson - 1

Search resuls for: "Swati Bhat Sudipto Ganguly"


3 mentions found


☆ India central bank holds rates as expected, signals tight policy ahead
  + stars: | 2023-06-08 | by ( Swati Bhat Sudipto Ganguly | Swati Bhat | Sudipto Ganguly | ) www.reuters.com   time to read: +4 min
Despite hitting an 18-month low of 4.70% in April, analysts do not expect India's inflation to fall to the Reserve Bank of India's (RBI) 4% medium-term target in a sustainable manner for some time. India has raised rates by 250 basis points (bps) since May 2022, but surprised analysts in April by keeping them unchanged. India's hold on rates contrasts with recent central bank actions elsewhere. "Our goal is to achieve the inflation target of 4% and keeping inflation within the comfort band of 2-6% is not enough," Das said. Das said that the central bank would remain "nimble" with its liquidity operations amid spikes in overnight rates despite surplus liquidity in the banking system.
Persons: Shaktikanta Das, OIS, Das, Michael Patra, Suvodeep Rakshit, Gaura Sen Gupta, Swati Bhat, Sudipto Ganguly, Ira Dugal, Krishna N, Sam Holmes, Kim Coghill Organizations: REUTERS, Reserve Bank of India's, MPC, Reserve Bank of Australia, Bank of Canada, Reuters, Reuters Graphics Reuters, IDFC, Thomson Locations: Delhi, India, Anushree, MUMBAI
☆ India holds key rate in surprise decision, keeps door open for more hikes
  + stars: | 2023-04-06 | by ( Swati Bhat Sudipto Ganguly | Swati Bhat | Sudipto Ganguly | ) www.reuters.com   time to read: +4 min
The central bank said its policy stance remains focused on "withdrawal of accommodation", signalling it could consider further rate hikes if necessary. The monetary policy committee (MPC), comprising three members from the central bank and three external members, retained the key lending rate or the repo rate (INREPO=ECI) at 6.50%. Most analysts had expected one final 25 basis point hike in the RBI's current tightening cycle, which has seen it raise the repo rate by a total 250 bps since May last year. The central bank sees inflation at 5.2% in 2023-24, and GDP growth is seen at 6.5% in the financial year beginning April 1. Reuters GraphicsFinancial stability concerns appear to have prompted the pause in rate hikes, said Aditi Nayar, chief economist at rating agency ICRA.
☆ India central bank hikes rates 25 bps as expected, hints at more to come
  + stars: | 2023-02-08 | by ( Swati Bhat Sudipto Ganguly | Swati Bhat | Sudipto Ganguly | ) www.reuters.com   time to read: +3 min
The central bank said that its policy stance remains focused on the withdrawal of accommodation, with four out of six members voting in favour of that position. Reuters GraphicsThe monetary policy committee (MPC), comprising three members from the central bank and three external members, raised the key lending rate or the repo rate (INREPO=ECI) to 6.50% in a split decision. We have to remain unwavering in our commitment to bring down CPI headline inflation," RBI Governor Shaktikanta Das said, while announcing the committee’s decision. In a poll conducted ahead of the federal budget on Feb. 1, more than three-quarters of economists, 40 of 52, had expected the RBI to raise the repo rate by 25 bps. Das said that the inflation-adjusted, real interest rate remains below the pre-pandemic levels and liquidity remains surplus, even though it is lower than during the pandemic.
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