RBI may hold rate yet again to focus on inflation management, say experts
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Experts predict that the Reserve Bank of India (RBI) will keep the key interest rate unchanged in April to focus on bringing down inflation. The RBI's rate-setting panel, the Monetary Policy Committee (MPC), is expected to consider global cues and the stance of major economies like the US and UK. The meeting of the MPC, headed by RBI Governor Shaktikanta Das, is scheduled for April 3-5, with the decision to be announced on April 5. The RBI last hiked the interest rate to 6.5% in February 2023 and has held it at the same level in its last six bi-monthly policies. Inflation is still around 5%, and there are concerns about future shocks on the food inflation front. The GDP growth in FY24 has been better than expected, but the central bank will continue to focus on targeting inflation. The government has mandated the RBI to ensure that consumer price index (CPI) based inflation remains at 4% with a margin of 2% on either side.

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