The Reserve Bank of India left its benchmark repo rate at 4 percent during its October meeting, as widely expected, saying it was maintaining an accommodative monetary policy stance as long as necessary to support economic growth and to help mitigate the negative impact of COVID-19. The bank also kept the reverse repo rate unchanged at 3.35 percent. Meanwhile, the RBI lowered its projection for retail inflation for the full year 2021/22 to 5.3 percent from 5.7 percent previously, amid the easing of food prices, combined with favourable base effects. The Bank maintained project GDP growth at 9.5 percent. source: Reserve Bank of India
Interest Rate in India averaged 6.44 percent from 2000 until 2021, reaching an all time high of 14.50 percent in August of 2000 and a record low of 4 percent in May of 2020. This page provides - India Interest Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. India Interest Rate - data, historical chart, forecasts and calendar of releases - was last updated on October of 2021.
Interest Rate in India is expected to be 4.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the India Interest Rate is projected to trend around 4.75 percent in 2022 and 5.50 percent in 2023, according to our econometric models.