The Reserve Bank of India raised its key repo rate by 50 bps to 5.4% during its August meeting, the third rate hike in a row, surprising markets had forecast a 35 bps rate hike, as policymakers stepped up efforts to bring down inflation which has stayed above the upper end of the central bank's target this year. The decision followed a 50 bps hike in June, bringing the rate to level not seen since September 2019. The central bank maintained its inflation forecast for FY 2023 at 6.7% and its economic growth at 7.2%. The annual inflation eased slightly to 7.01% in June of 2022, amid surging food prices. However, it remained above the RBI’s target range of 2-6% for the sixth straight month. The central bank also raised both the standing deposit facility (SDF) rate and the marginal standing facility (MSF) rate and the bank rate by 50 bps to 5.15% and 5.65%, respectively. source: Reserve Bank of India
Interest Rate in India averaged 6.37 percent from 2000 until 2022, 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 August of 2022.
Interest Rate in India is expected to be 5.40 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 6.25 percent in 2023, according to our econometric models.