The Reserve Bank of India unexpectedly held its benchmark repo rate at 5.15 percent during its December 2019 meeting, after five consecutive rate cuts and surprising markets that expected a 25bps cut amid a sharp economic slowdown. The central bank revised its growth forecasts to 5 percent from 6.1 percent for the current fiscal year that ends in March 2020. Inflation is seen higher at 5.1 percent-4.7 percent in the second half of the current fiscal year, mainly due to prices of vegetables, milk, pulses, and sugar. Yet, policymakers said they will continue with the accommodative stance as long as it is necessary to revive growth, while ensuring that inflation remains within the target.
Interest Rate in India averaged 6.63 percent from 2000 until 2019, reaching an all time high of 14.50 percent in August of 2000 and a record low of 4.25 percent in April of 2009. This page provides - India Interest Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. source: Reserve Bank of India
Interest Rate in India is expected to be 5.15 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 4.50 in 12 months time. In the long-term, the India Interest Rate is projected to trend around 3.75 percent in 2020, according to our econometric models.