Connect with us

News

RBI MPC: policy rates unchanged, inflation forecast raised, GDP projection lowered

RBI

The Monetary Policy Committee of the Reserve Bank on April 8 kept the key interest rates unchanged and retained its accommodative stance.

The inflation is now projected to be higher and growth lower than February’s expectations. The policy projected the CPI inflation at 5.7 per cent for FY23.

The banking regulator lowered its projected GDP growth for FY23 to 7.2 per cent from the previously estimated 7.8 per cent. Assuming oil at $100, the GDP growth is seen at 6.2 percent in April-June, 6.2 per cent in July-September, 4.1 per cent in October-December, and at 4 percent in January-March quarters.

Realty experts welcome status quo on key rates:

Anshuman Magazine

Anshuman Magazine, Chairman & CEO – India, South-East Asia, Middle East & Africa, CBRE

“Given the global headwinds, we welcome the RBI’s continuation of accommodative stance as well as its decision to maintain the repo rate at 4% as it will ensure liquidity in the country which will further pump-up investor sentiments. The continuation of the current repo rate regime would ensure that home loan rates remain low, leading to continued buyer interest in the residential sector. This would come as a breather for developers who are facing rising construction costs.”

Advertisement
Anuj puri

Anuj Puri, Chairman, ANAROCK Group:

Despite inflation edging higher in the aftermath of the Russia-Ukraine war and surging oil prices, the RBI has again decided to keep the repo rates unchanged at 4% and reverse repo rate at 3.35%. This is the eleventh consecutive time that the RBI maintained status quo amid the current uncertainties and the global economy also seeing a sharp rise in inflation.

Anurag Mathur

Anurag Mathur, CEO, Savills India:

“The accommodative stance and unchanged benchmark lending rates reflect the RBI’s confidence in strong fundamentals of the Indian economy. However, the governor has indicated towards a withdrawal of accommodation in future to keep inflation within the tolerance levels.  Furthermore, the real GDP growth rate for FY23 has been projected at 7.2%.

Niranjan

Dr Niranjan Hiranandani – Vice Chairman – NAREDCO & MD- Hiranandani Group

 “Understanding the balanced policy review, the trimmed GDP outlook casted at 7.2% for FY 22-23 is real economic discomfort, as it will impede steady growth of many industries and arrest the pace of economic growth rate. Soaring inflationary pressure as a result of an alarming spike in raw materials, input costs and crude oil prices will hurt profit margins in the affordable housing segment. As a result, an upward revision in prices is inevitable to ensure project viability.”

Latest News

Events15 hours ago

Danube Properties’ Dh525 million Opalz sold out on the first day of launch

October 4, 2022: Danube Properties, the UAE-based affordable housing developer, said, its latest project Opalz, a twin-tower residential project with...

Events15 hours ago

Pacific Mall D21’s ‘Dussehra Celebrations’ drops the curtain with high attendance

New Delhi: Pacific Mall D21 organised a two-day Dussehra celebration and Garba Night, attracting massive turnouts. The special arrangement of...

News15 hours ago

Tata Value Homes sells over 100 residential units at New Haven, Bahadurgarh at launch

Delhi/Haryana October 4, 2022: With an aim to address the growing demand for quality homes in Haryana – Bahadurgarh, Tata...

New Launches15 hours ago

Welspun Corp opens steel plant in Anjar

October 3, 2022, Anjar, Gujarat: Welspun Metallics Limited, a subsidiary of Welspun Corp Limited (WCL), the flagship company of the Welspun...

Events1 day ago

Over 1500 cyclists join Hiranandani Thane Cyclothon 2022 to support ‘Rhyme for Earth’ initiative

October 2, Thane: The Hiranandani Group hosted the first Hiranandani Thane Cyclothon today from its thriving Thane township, Hiranandani Estate. Over...

New Launches1 day ago

Ashiana Housing adds over 900 senior living units with Villas and Apartments with the launch of Ashiana Advik in Bhiwadi

New Delhi, October 3, 2022: New Delhi-based real estate developer Ashiana Housing has announced the launch of Ashiana Advik in Sector 39, Bhiwadi....

Trending