Reserve Bank of India raises interest rates to 5.9 per cent Dynamics

New Delhi: The Reserve Bank of India (RBI) will raise the repo rate on short-term loans to 5.9 per cent by December, according to rating agency Pitch Ratings.
The Reserve Bank of India (RBI) last week hiked interest rates by 0.50 per cent on the back of rising retail inflation. In this context, the interest rate is expected to rise to 5.9 per cent in December this year.
The company, in its global economic outlook, further said about India: For India, the economy will be affected by the environment and rising commodity prices.

As inflation rises, the Reserve Bank is expected to raise interest rates to 5.9 per cent by December. Moreover, it may increase to 6.15 per cent in 2023. Expect no change in 2024. At present, the Reserve Bank’s interest rate is 4.9 per cent.

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