The Reserve Bank of India’s Monetary Policy Committee has decided to keep the repo rate unchanged at 6.5% for the fourth consecutive time. The central bank also maintained its inflation forecast for the fiscal year at 5.4%. Despite uncertainties in the agriculture sector and volatile global food and energy prices, the MPC remains focused on withdrawing accommodation. The GDP forecast for FY24 is unchanged at 6.5%, with projections of 6.5% for Q2, 6% for Q3, and 5.7% for Q4. The panel also increased the limit for gold loans under the Bullet Repayment scheme.
US dollar makes weekly gains on renewed trade deal optimism
The dollar is poised for a weekly gain against major currencies amid optimism surrounding potential U.S.-China trade talks, fueled by a recent U.S.-UK trade agreement.
May 10, 2025