The US Fed rate hike is no surprise and may not impact RBI's policy
next month as it had already factored in the global development and will
be guided by local factors, said experts. The US Fed hike is as per the
expected lines, which raised its benchmark interest rate for the second
time in three months and there is forecast of two additional hikes this
year, experts said. "RBI will not cut interest rate. Rate cut cycle
is over as far as RBI is concerned," Crisil Chief Economist D K Joshi
said. RBI is expected to stay put on the repo rate in its upcoming
monetary policy next month because of rise in inflation both
wholesale and retail.
The monetary policy review is due on April 5-6. Wholesale inflation
soared to a 39-month high of 6.55 per cent in February and retail
inflation inched up to 3.65 per cent due to higher food and fuel prices,
justifying the RBI's move to hold rates at the last policy meet.
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