The Reserve Bank of India unexpectedly lowered its benchmark repurchase rate by 40 basis points to 4 percent in an emergency move on May 22nd, amid an ongoing nationwide lockdown to prevent further spreading of the coronavirus. The reverse repo rate was also lowered by 40 basis points to 3.35 percent and the marginal standing facility rate to 4.25 percent. The committee also decided to continue with the accommodative stance of monetary policy aiming to achieve the medium-term inflation target of 4 percent +/- 2 percent, and mitigate the impact of COVID-19 on the economy, while supporting growth.
Interest Rate in India averaged 6.59 percent from 2000 until 2020, 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. India Interest Rate - data, historical chart, forecasts and calendar of releases - was last updated on June of 2020. source: Reserve Bank of India
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 3.75 in 12 months time. In the long-term, the India Interest Rate is projected to trend around 3.75 percent in 2021, according to our econometric models.