The Reserve Bank of India (RBI) is likely to raise its inflation projection for the current fiscal year at its June monetary policy meeting and will consider more interest rate hikes, a source aware of the development said on Wednesday, said Reuters.
In its first rate move in two years and its first hike in nearly four, the RBI raised the repo rate by 40 basis points (bps) to 4.40 percent following a emergency meeting earlier this month.
The RBI will "certainly" raise the forecast again in June, as it did not want to do it in the off-cycle emergency meeting in May, said the source, who did not want to be identified as the discussions are private, Reuters said.
(With inputs from Reuters)
India Launches Cancer Care Training Program For BIMSTEC Nations At Tata Memorial Centre
Mumbai News: Only 69% Of Legacy Waste Cleared From Mulund Dumping Ground; Contractor Seeks 1-Year Extension, Faces Penalty
Mumbai Crime: Man Jailed For Rape Marries Victim After Release, Allegedly Abuses Her Again In Mankhurd; FIR Filed Under BNS Act
Thane MACT Rejects MSRTC’s ₹10 Lakh Claim For ‘New’ Bus Damaged In 2014 Crash; Awards ₹4 Lakh After Finding Shared Negligence
