RBI Monetary Policy LIVE News Updates: The Reserve Bank of India (RBI) is expected to maintain its hawkish policy stance, given the robust economic growth and manageable inflation. The current conditions provide policymakers with limited space for contemplating interest rate cuts at this time.There is an anticipation of a sustained halt in the short-term key lending rate, given the accelerating GDP growth and manageable inflation. In the last four bi-monthly monetary policies, the RBI maintained the status quo on the benchmark policy rate (repo). The last adjustment occurred in February, concluding the interest rate hike cycle that commenced in May 2022 due to the aftermath of the Russia-Ukraine conflict and subsequent disruptions in the global supply chain, leading to elevated inflation in India.Aditi Nayar, Chief Economist at ICRA, suggested that with the second-quarter GDP data for 2023-24 surpassing the MPC's previous forecast and ongoing concerns about various aspects of food inflation, a pause in the December 2023 review is expected, accompanied by a somewhat hawkish policy document. Deutsche Bank Research predicted that the RBI would likely revise the 2023-24 GDP forecast to 6.8%, up from the previous 6.5%, while maintaining the CPI forecast at 5.4%.India maintained its position as the world's fastest-growing major economy, with a GDP expansion of 7.6% in the September quarter, exceeding expectations. Sanjay Bhutani, Director of the Medical Technology Association of India (MTaI), noted that recent MPC meetings have aligned with market expectations by keeping the policy rate unchanged.The government has tasked the central bank with ensuring that retail inflation, based on the Consumer Price Index (CPI), remains at 4%, with a margin of 2% on either side. Retail inflation eased to a four-month low of 4.87% in October, primarily due to declining food prices. H S Bhatia, Managing Director of Kelwon Electronics and Appliances, emphasized the potential impact of RBI's decisions on the consumer durable industry, expressing hope for stable or slightly reduced interest rates in the upcoming review to bolster consumer purchasing power.Parijat Agrawal, Head of Fixed Income at Union Asset Management Company, pointed out the meaningful correction in the US 10-year bond and reduced concerns about oil prices. Despite the emphasis on bringing inflation to the 4% target, Agrawal anticipated the MPC to maintain a pause on rates and stance. The MPC comprises three external members (Shashanka Bhide, Ashima Goyal, and Jayanth R Varma) and three RBI officials (Governor Das, Rajiv Ranjan - Executive Director, and Michael Debabrata Patra - Deputy Governor).