The Reserve Bank of India left its benchmark repo rate at 4 percent during its June meeting and announced additional bond purchases, saying it was maintaining an accommodative monetary policy stance as long as necessary to support the economic recovery and to help mitigate the negative impact of COVID-19. Policymakers said the RBI will buy INR 1.2 trillion worth of bonds in the September quarter on top of its current quantitative easing programme called G-SAP 1.0. The bank also kept the reverse repo rate, the borrowing rate, unchanged at 3.35 percent. Meantime, officials project GDP growth at 9.5 percent in the fiscal year 2021/22, down from a previous forecast of 10.5 percent, consisting of 18.5 percent in Q1; 7.9 percent in Q2; 7.2 percent in Q3; and 6.6 percent in Q4. On the price front, CPI inflation is projected at 5.1 percent during 2021/22: 5.2 percent in Q1; 5.4 percent in Q2; 4.7 percent in Q3; and 5.3 percent in Q4. source: Reserve Bank of India
Interest Rate in India averaged 6.47 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 August 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. Looking forward, we estimate Interest Rate in India to stand at 4.25 in 12 months time. 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.