RBI MPC Meet 2024 Live: A police officer walks past the Reserve Bank of India (RBI) logo inside its headquarters in Mumbai, India.
RBI MPC Meet 2024 Live: The Reserve Bank of India (RBI) governor Shaktikanta Das will announce Monetary Policy today (August 8). The Monetary Policy Committee (MPC) held its third bi-monthly policy meeting for financial year25 from August 6 to August 8 and the results of the same will be announced the RBI governor today.…Read More
Will RBI keep repo rates unchanged?
Experts widely expect the RBI MPC to keep the benchmark repo rate unchanged at 6.5% and maintain the policy stance of ‘withdrawal of accommodation’. If this happens, it will mark the ninth time repo rate have remain unchanged as the benchmark rate has not been changed for the last 18 months.
When will Shaktikanta Das announce repo rate decision?
RBI governor Shaktikanta Das will announce the MPC’s decision at around 10am today.
What else should you look out for today?
Make sure to note RBI’s estimates on India’s GDP growth as well as MPC’s inflation forecast. Retail inflation increased to 5.08% year-on-year in June owing to rising food prices. Since March this year, CPI-based inflation has stayed below 5% and under 6% since September last year. CPI-based inflation is still within the RBI’s 2-6% tolerance range for the past ten months.
What was decided in RBI MPC in June?
In June, the RBI MPC voted 4-2 to maintain the repo rate at 6.5% for the eighth consecutive time and persist with its stance of ‘withdrawal of accommodation’. The RBI then revised its GDP growth forecast for FY25 to 7.2%, up from the previous estimate of 7% and the inflation forecast for FY25 remained unchanged at 4.5%.
When are next RBI MPCs?
The Reserve Bank of India (RBI) is scheduled to hold MPC meetings on these dates– October 7-9, December 4-6 and February 5-7, 2025.
