A survey by Moneycontrol and Deloitte asked 45 top business leaders in India what they think the Reserve Bank of India (RBI) will do with interest rates in the next six months. The survey included CEOs from many industries, including banking, manufacturing, transport, energy, health, technology, and e-commerce. They were from big, medium, and small companies.
Most leaders expect the RBI to lower interest rates a little, some think it will stay the same, and a smaller group expects a bigger cut. Very few think it will be a large cut. About 43% think it will be a small cut of 0.25% (25 basis points), while around 26% expect a bigger cut of 0.25% to 0.5% (25-50 bps). About 28% believe the rate will stay the same, and only a small number of respondents think the RBI might cut it by more than 0.5% (50 bps).”
Earlier on January 22, a survey of 14 economists and banking experts said that the RBI will probably keep interest rates the same in its February meeting. They think this because the economy is growing and inflation is close to the RBI’s 4% target. However, a few experts believe the RBI might still reduce rates slightly by 0.25% (25 basis points).
Since February 2025, the RBI has cut the repo rate by a total of 1.25% (125 basis points) to support economic growth. There were rate cuts of 0.25% (25 bps) in February, another 0.25% (25 bps) in April, 0.5% (50 bps)in June, and 0.25% (25bps) in December. However, in August and October, the RBI kept the rates the same.
The Reserve Bank of India’s Monetary Policy Committee (MPC) will meet from February 4 to 6 to make a decision on interest rates. Experts say RBI is likely to keep interest rates low to encourage more spending and lending, which helps the economy grow.
