Trusted News Discovery Since 2008
{{/content}}
RBI Monetary Policy February 2024: Will RBI Keep Interest Rate Paused? Know What Experts Say
Credit: Zee News- Published on February 8, 2024
For a year, the Reserve Bank has kept the repo rate unchanged at 6.5 percent. The benchmark interest rate was last raised in February 2023 to 6.5 percent from 6.25 percent.
Video credit: Wibbitz Top Stories
Published on February 5, 2024 - 01:31
Jerome Powell Says the โTime Is Comingโ for Interest Rate Cuts
Jerome Powell Says the โTime Is Comingโ , for Interest Rate Cuts.
In an interview with '60 Minutes' on Jan. 4, the
Federal Reserve chair said the central bank is still on track
to reduce interest rates later this year, Fox News reports. .
There is no easy, simple, obvious
path. We have to balance the risk
of moving too soon or too late.
And there are different risks. , Jerome Powell, Federal Reserve chair, via '60 Minutes'.
We think the economy's in a good place.
We think inflation is coming down. , Jerome Powell, Federal Reserve chair, via '60 Minutes'.
We just want to gain a little more
confidence that it's coming down in
a sustainable way toward our 2% goal, Jerome Powell, Federal Reserve chair, via '60 Minutes'.
While the "time is coming" to cut rates, "it's not likely that this
committee will reach that level of confidence in time for the March meeting, which is in seven weeks," Powell said.
At its last meeting, the Federal Open
Market Committee kept rates steady
for the fourth consecutive time.
Rates currently sit "at a range of
5.25% to 5.5%," which is the most they've been in 22 years, Fox News reports. .
Investors and analysts expect the Fed
to start its rate cuts in May or June. .
The labor market remains strong.
353,000 jobs were added in January.
We have a strong economy. Growth is
going on a solid pace, the labor market
is strong: 3.7% unemployment, Jerome Powell, Federal Reserve chair, via '60 Minutes'.
With the economy strong like that,
we feel can approach the question
of when to begin to reduce
interest rates carefully. , Jerome Powell, Federal Reserve chair, via '60 Minutes'.
We want to see more evidence that
inflation is moving sustainably to 2%, Jerome Powell, Federal Reserve chair, via '60 Minutes'
You are here
Related news from verified sources
Experts predict that the Reserve Bank will continue to maintain the pause on the short-term lending rate in its upcoming monetary policy. The benchmark interest...
on February 4, 2024 • IndiaTimes
A year is divided into six bimonthly reviews of the central bank's monetary policy. Additionally, there are out-of-cycle reviews, where the central bank holds...
on February 8, 2024 • Zee News
The Reserve Bank of India (RBI) is anticipated to maintain interest rates following the conclusion of its monetary policy committee's meeting on February 8th....
on February 4, 2024 • IndiaTimes