The Reserve Bank of India held its benchmark repo rate at 4 percent during its October meeting, as widely expected. Policymakers said the decision is consistent with neutral monetary policy stance and is in line with achieving the inflation target of 4 percent +/-2 percent while supporting economic growth and mitigate the impact of COVID-19 on the economy. For 2020-21, policymakers expect inflation to average 6.8 percent for the second quarter of the year and a range of 5.4 - 4.5 percent for the second half. GDP growth for 2020-21 is expected to contract 9.5 percent, with risk tilted to the downside (-9.8 percent) in the second quarter of 2020. source: Reserve Bank of India
Interest Rate in India averaged 6.56 percent from 2000 until 2020, 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 2020.
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. Looking forward, we estimate Interest Rate in India to stand at 3.50 in 12 months time. In the long-term, the India Interest Rate is projected to trend around 3.50 percent in 2021 and 3.75 percent in 2022, according to our econometric models.