HOW THE MAJOR CENTRAL BANKS OF THE WORLD HAVE ACTED RECENTLY WITH INTEREST RATES: CLUE TO BE RECOGNIZED BY INDIA

HOW THE MAJOR CENTRAL BANKS OF THE WORLD HAVE ACTED RECENTLY WITH INTEREST RATES: CLUE TO BE RECOGNIZED BY INDIA


Dear Readers,

Comparatively I am presenting before all of you "How the Major Central Banks of the World have acted recently" with Respect to the Major Economies of the World regarding interest rates and the Clue to be Recognized by India :

1.     Reserve Bank of India (RBI) : In its MPC Meeting of 4-6 -December-2024, the interest rate, the Repo Rate of 6.5%( one of the Highest in the World) was kept unchanged against all cries of the people of the Nation and in fact, Government of India side wishing for a rate cut to alleviate the burden of higher interest rate of RBI (while even the Hon'ble Finance Minister and Hon'ble Minister of Commerce and Industry from Government of India side expressed in favor of rate cut in public) and even 2-External MPC Members (out of 3-Externals) and out of the Total 6-MPC Members, dissented in favour of a rate cut of 0.25%. The Former RBI Governor ( Mr. Shaktikanta Das ) was not given extension as corollary and was allowed to go on 10-December-2024. The New RBI Governor ( Mr. Sanjay Malhotra ) has taken over on 11-December-2024, he has to be given some time to settle down in All Fairness, we can hope that in February 2025, MPC Meet, the Nation will get relief out of the higher interest regime with justified interest rate cut cycle beginning to take place from then onwards. 

2.    Bank of England : Yesterday on 19-Dec-2024 kept its Interest Rate of 4.75% Unchanged. Out of 9-Member Rate-Setting Committee 3-Members have dissented to cut it to 4.5%, however it was kept unchanged at 4.75%.
You can read the BBC News link giving below or you can find any other and read:

Interest rates held as Bank says economy doing worse


3.   US Federal Reserve: On 18-Dec-2024, US Fed cut the interest rate by 0.25% to make it 4.25 % (from earlier existing 4.5%). US Fed has done cut in interest rate 3-times in 2024 to reach here and it has said in 2025(next year) only two rate cuts of 0.25% each can be maximum possible, so they have plan to go up to 3.75% in 2025.
You can read Reuters News Report giving the link or any other by your choice:

Fed lowers rates but sees fewer cuts next year due to stubbornly high inflation


India normally takes the Clues from US Fed, however RBI has not acted in the whole year 2024 in line with US Fed, taking a stand though not very comfortable for Indian Economy, but acted by its own. It is expected that he New RBI Governor will put the Gear rightly in February 2025 MPC.

4.   Bank of Japan : The Bank of Japan yesterday kept its interest rate unchanged at 0.25%. It is one of the lowest, rather the lowest in the World in this sized economy, though 1-Memer out of 9-Membered Committee dissented to increase it to 0.5% it was kept unchanged at 0.25%. They had just 0.10% interest rate which they had increased to 0.25% in their last meet, and kept there without further increase. Bank of Japan will be waiting of the Regime of Mr. Donald Trump Presidency to Come to Office on January 20, 2025.
You can read Reuters News Report giving the link or any other by your choice:

Bank of Japan keeps rates unchanged with few clues on next move


Since the interest rate of RBI has been one of the Highest in the World, in consequence, India had the Highest  Level of Inward Remittances of the World in 2024 at USD 129 Billion, our NRI brothers/sisters of India who live or work abroad, want to take benefit of this highest level of interest rate of India and a depreciating Indian Rupee(INR), however provided the people of India can afford to give it for a long time, they are already burdened for a long time, with a highest level interest rate regime, this has to be considered by all.

In fact the whole of the World is waiting for Mr. Donald Trump Presidency to Come to Office on January 20, 2025 to take clues from actions in USA from there. 

As a Prominent Professional of India, I do keep track of these interest rates with "Nation First Motto" and my comments are with this motto, in the Interest of Indian Economy and People of India, in all fairness to my Nation of India.

With Best regards,
Dr. Nimain Charan Biswal,
Mumbai, India


About the Author: Dr. Nimain Charan Biswal is a B.Sc.(Agri. Science and Technology), M.B.A. and Ph.D.(Management Area ) by qualifications; and he has 38+ years of work experience in both industrial and development sectors in diversified fields of social importance. He has been educated at Orissa University of Agriculture and Technology (OUAT)-Bhubaneswar, Institute of Rural Management Anand (IRMA) and Gujarat University (with Resource Support of IIM-Ahmedabad). He is further educated at IIM-Calcutta, XLRI-Jamshedpur, Apple Computer Industries and Spar Inc., USA. He has worked for reputed National and International Organizations in Senior/Top Management Capacities at Board level as well as Managing Director and CEO. He is a management expert covering extensive areas from management in industrial sectors, management in agriculture and dairy, development management to management of public systems. He is a prominent professional of India and known Internationally as well. He is also a Political Strategist. He lives at Mumbai in India.

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