The Reserve Bank of India raised its key repo rate by 50 bps to 4.9% during its June meeting, after May's surprise 40 bps off-cycle hike, surprising markets had forecast a 40 bps rate hike, aiming to ensure inflation remains within target going forward while supporting growth. The board decided to revised upwards its inflation forecast to 6.7 percent for FY 2022-2023 from 5.7 percent. Meanwhile, the central bank maintained its economic growth outlook for FY 2022-2023 at 7.2%. The annual inflation accelerated to 7.79% in April of 2022, the highest since May of 2014, amid surging food prices. 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 4.65% and 5.15%, respectively. source: Reserve Bank of India
Interest Rate in India averaged 6.38 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 July of 2022.
Interest Rate in India is expected to be 4.90 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.