Will banks start reducing fixed deposit (FD) interest rates now? All eyes on RBI MPC announcements on August 10
Published by Economic Times
Abhishek Kumar's role: Quoted
Abhishek Kumar, founder of SahajMoney, said a few banks had cut FD rates early in anticipation of a repo rate cut, but the recent rise in CPI inflation might keep the MPC holding the repo rate for a few more quarters.
More of Abhishek's views on saving and deposits
Ahead of the RBI's policy announcement on 10 August 2023, Economic Times asks whether banks would now start cutting FD rates. It recalls the 250 basis point repo rise to February 2023, the cuts some banks had made since May and the liquidity from withdrawn ₹2,000 notes, with experts divided on whether rates had peaked. It includes comments from Abhishek Kumar.
Publisher source
Will banks start reducing fixed deposit (FD) interest rates now? All eyes on RBI MPC announcements on August 10
