Latest news with #MPC
Economic Times
3 hours ago
- Business
- Economic Times
Retail inflation hits six-year low of 2.10% in June
Live Events (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel India's retail inflation eased to a six-year low of 2.1% in June, aided by an easing of food price rises and favourable base effects, government data released on Monday showed. This marks the fifth consecutive month that inflation has stayed below the Reserve Bank of India 's (RBI) medium-term target of 4% and the eighth straight month it has remained under the central bank's upper tolerance band of 6%.June also marked the second month in a row with inflation below 3%. Retail inflation was down from 2.82% in May and 5.08% in June 2024.A Reuters poll of 50 economists had forecast retail inflation in June to ease to 2.50%.The data comes a month after the RBI's Monetary Policy Committee (MPC) cut the benchmark repo rate by 50 basis points to 5.5%, the third consecutive cut this year. The policy stance was shifted to 'neutral' to indicate a more balanced approach to growth and inflation going FY26, the central bank revised its CPI inflation forecast down to 3.70%, from the earlier projection of 4% made in April. The quarter-wise breakdown now stands at: Q1: 2.9%, Q2: 3.4%, Q3: 3.5%, Q4: 4.4%.The MPC observed that while inflation has softened considerably since breaching the tolerance band in late 2024, global uncertainties and supply-side risks continue to warrant close monitoring. Nonetheless, the RBI had said the inflation outlook is 'evenly balanced' and projected further easing in price pressures in the coming months.'Inflation has softened significantly over the last six months from above the tolerance band in October 2024 to well below the target, with signs of broad-based moderation,' RBI Governor Sanjay Malhotra said in his post-policy address.
Zawya
4 hours ago
- Business
- Zawya
Egypt: CBE keeps interest rates unchanged
Arab Finance: The Central Bank of Egypt's (CBE) Monetary Policy Committee (MPC) has decided to hold key interest rates steady, citing ongoing global uncertainties and recent domestic inflation trends, as per an announcement on July 10th. The overnight deposit rate remains at 24%, the overnight lending rate at 25%, and the rate of the main operation at 24.5%. The discount rate also stays unchanged at 24.5%. According to the MPC, the decision reflects its assessment of the latest economic conditions since the previous meeting. Globally, growth forecasts have been revised down since the start of the year due to uncertainty in trade policies and rising geopolitical tensions. In response, central banks in both advanced and emerging economies have maintained a cautious approach to monetary policy. Oil prices have shown volatility, mainly due to supply factors and expectations of weaker demand. Agricultural commodity prices have declined slightly, supported by seasonal factors. However, inflation risks remain, driven by geopolitical developments, trade disruptions, and climate-related shocks. Domestically, the CBE's nowcast for the second quarter (Q2) of 2025 indicates that economic activity is recovering, with annual growth expected to remain close to the 4.8% recorded in Q1 2025, compared to 2.4% in Q2 2024. The output gap is narrowing and is expected to close by the end of the current fiscal year (FY) 2025/2026, with demand-side inflationary pressures remaining limited under the current monetary stance. Furthermore, the CBE expects annual headline inflation to remain near current levels during the rest of 2025 before declining in 2026, depending on the persistence of non-food inflation and the impact of fiscal measures, including changes in administered prices. Given these factors, the MPC sees it as appropriate to keep rates at current levels while monitoring the potential effects of recent legislative changes such as value-added tax reforms. The committee said it will continue to assess the pace and scale of future policy adjustments based on economic data and risk developments. It reaffirmed its commitment to its price stability target of 7% (± 2 percentage points), on average, in Q4 2026. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
Barnama
4 hours ago
- Business
- Barnama
Xpats Gateway's Success Proves Effectiveness Of Bureaucratic Reforms
KUALA LUMPUR, July 14 (Bernama) -- The success of the Xpats Gateway platform in shortening the processing period of Employment Passes (EP) proves the effectiveness of the Bureaucratic Red-Tape reforms in improving the overall quality of government service delivery. Malaysian Productivity Corporation (MPC) director-general Datuk Zahid Ismail said the platform reflected the government's successful overall approach in translating policies into high impact actions. 'This is the best choice on how reform is coordinated well to provide direct benefits to the economy and the public,' he said in a statement today.
Time of India
5 hours ago
- Business
- Time of India
Retail inflation hits six-year low of 2.10% in June
India's retail inflation eased to a six-year low of 2.1% in June, aided by an easing of food price rises and favourable base effects, government data released on Monday showed. This marks the fifth consecutive month that inflation has stayed below the Reserve Bank of India 's (RBI) medium-term target of 4% and the eighth straight month it has remained under the central bank's upper tolerance band of 6%. June also marked the second month in a row with inflation below 3%. Retail inflation was down from 2.82% in May and 5.08% in June 2024. A Reuters poll of 50 economists had forecast retail inflation in June to ease to 2.50%. The data comes a month after the RBI's Monetary Policy Committee (MPC) cut the benchmark repo rate by 50 basis points to 5.5%, the third consecutive cut this year. The policy stance was shifted to 'neutral' to indicate a more balanced approach to growth and inflation going forward. RBI's inflation outlook Live Events For FY26, the central bank revised its CPI inflation forecast down to 3.70%, from the earlier projection of 4% made in April. The quarter-wise breakdown now stands at: Q1: 2.9%, Q2: 3.4%, Q3: 3.5%, Q4: 4.4%. The MPC observed that while inflation has softened considerably since breaching the tolerance band in late 2024, global uncertainties and supply-side risks continue to warrant close monitoring. Nonetheless, the RBI had said the inflation outlook is 'evenly balanced' and projected further easing in price pressures in the coming months. 'Inflation has softened significantly over the last six months from above the tolerance band in October 2024 to well below the target, with signs of broad-based moderation,' RBI Governor Sanjay Malhotra said in his post-policy address. (More to come)
Time of India
9 hours ago
- Business
- Time of India
India's wholesale inflation rate eases to 15-month low of 0.13% in June; here is a look at kitchen prices
India's wholesale inflation eased to 0.13% in June on an annual basis, down from a 14-month low of 0.39% recorded in May, according to government data released on Monday. A Reuters poll of economists had projected wholesale price index (WPI)-based inflation to moderate rise slightly to 0.52% in June. India's retail inflation fell to a more than six-year low of 2.82% in May 2025. The figure represents a decline of 34 basis points from April and marks the lowest annual inflation rate recorded since February 2019. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Birla Evara 3 and 4 BHK from ₹ 1.75 Crore* Birla Estates Learn More Undo RBI's inflation outlook The Reserve Bank of India 's Monetary Policy Committee (MPC), in its April meeting, cited a continued moderation in price pressures , mainly driven by softer food costs . Live Events It projected further easing in FY26, offering relief to consumers. The MPC revised its FY26 inflation forecast to 4%, down from its earlier projection of 4.2%. Quarter-wise projections showed inflation expected to average 3.6% in the first quarter, 3.9% in the second quarter, 3.8% in the third quarter, and 4.4% in the final quarter of FY26. Moreover, the central bank assessed risks to inflation as broadly balanced.
