Mexican Media Brands
India Leaves Interest Rates Unchanged
The Reserve Bank of India has left its key interest rate at 8%, surprising economists who expected the bank would respond to slowing growth by cutting borrowing costs.
#economics
Share
The Reserve Bank of India has left its key interest rate at 8%, surprising economists who expected the bank would respond to slowing growth by cutting borrowing costs.
The central bank says lowering rates would drive consumer prices higher. In an effort to rein in inflation, the RBI has hiked interest rates 13 times since March 2010, and India's consumer prices have eased slightly in recent months.
The Society of Indian Automobile Manufacturers has cited steep interest rates as one of the major reasons that car sales are slowing. Volume crept up 3% to 163,200 vehicles in May. A central bank rate cut could make auto loans more affordable. But the other factors slowing sales rising prices for vehicles and gasoline might be exacerbated by easier credit.
RELATED CONTENT
-
On Quantum Navigation, EVs, Auto Industry Sales and more
Sandia’s quantum navi, three things about EVs, transporting iron ore in an EV during the winter, going underwater in an EV (OK, it is a sub), state of the UK auto industry (sad), why the Big Three likes Big Vehicles, and the future of logistics.
-
Inside Ford
On this edition of “Autoline After Hours” Joann Muller, Detroit bureau chief for Forbes, provides insights into what she’s learned about Ford, insights that are amplified on the show by our other panelists, Stephanie Brinley, principal analyst at IHS Markit who specializes in the auto industry, and Todd Lassa, Detroit Bureau Chief for Automobile.
-
Mazda, CARB and PSA North America: Car Talk
The Center for Automotive Research (CAR) Management Briefing Seminars, an annual event, was held last week in Traverse City, Michigan.