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Mixed reactions on rate cut pause by trade bodies
Expressing disappointment at the RBI's decision to keep interest rates unchanged, industry body Ficci on Thursday said there is a need for continued action on the policy rate front to boost growth.
New Delhi: Expressing disappointment at the RBI's decision to keep interest rates unchanged, industry body Ficci on Thursday said there is a need for continued action on the policy rate front to boost growth.
Meanwhile, Assocham said accommodative stance on policy is understandable as long as banks are nudged to pass on the rate cut benefits to customers.
RBI has given an adequate approach to the accommodative stance of monetary policy in the era where lot of developmental activities are on the move and thrust of the government is to create demand in the economy, PHD Chamber said.
"The RBI has left the repo rate unchanged in today's announcement. This is contrary to what Ficci was expecting given the weakening growth scenario in the economy.
We note with concern that the transmission of the earlier policy rate cuts has not happened adequately and are disappointed with the decision to not cut the repo rate as there is need for continued action on the policy rate front," Ficci President Sandip Somany said in a statement.
