Latha Venkatesh

Chetan Ahya, Chief Asia Economist at Morgan Stanley says the Reserve Bank of India (RBI) may not lower interest rates immediately, as it needs to

The US and China have cut interest rates in the past week. Will the Reserve Bank of India (RBI) follow suit in the October policy?

Discussing rate cuts, Suresh Ganapathy, a Banking Analyst at Macquarie Capital Securities said that since October to November is a festive season, and January to March is usually a busy time, it is unlikely that any interest rate cuts will happen before March.

Santanu Chakrabarti, India Analyst, BFSI, BNP Paribas indicated that deposit rates have likely reached their peak. While it is difficult to predict whether any bank might raise rates in specific categories in the coming weeks, especially with an anticipated rate cut in October, the overall trend suggests that deposit rates have mostly stabilised.

Puneet Chhatwal, MD and CEO of Indian Hotels Company (IHCL) said the company has increased the pace of opening hotels and are aiming to open between 25 to 30 hotels this financial year (FY25).

"Fundamentally, the idea is to generate the capacity and capability within India, which is very strategic. We can keep importing till we lose all our money. So fundamentally, that has helped us," Jairam Sampath, Director and CFO of Kaynes Technology said.

Sources told CNBC-TV18 that the government is set to reveal new external members for the RBI Monetary Policy Committee tomorrow, replacing Ashima Goyal, J R Varma, and Shashanka Bhide, whose terms end on October 6.

Moody's economist Harry Murphy Cruise highlights the focus on household consumption as a significant shift, but adds that full implementation is crucial before adjusting growth forecasts.

As the Reserve Bank of India's (RBI) Monetary Policy Committee (MPC) prepares to meet from October 7th to 9th, 2024, it faces a complex balancing act.

Chetan Ahya, Chief Asia Economist and Emerging Markets expert at Morgan Stanley, emphasized that China's immediate priority should be to increase its fiscal deficit and direct it towards boosting consumption in order to tackle the ongoing deflation issue.