Latest Breaking News On - Monetary policy meet 2023 - Page 1 : comparemela.com

RBI MPC Meeting LIVE Updates: The Reserve Bank of India (RBI) is expected to keep its main interest rate unchanged in today s meeting, with a primary focus on controlling inflation amidst rising oil prices and the Federal Reserve s efforts to strengthen the rupee. In response to the Russia-Ukraine conflict, the Reserve Bank initiated a gradual policy rate increase starting in May 2022, ultimately reaching 6.5 percent by February of this year. Over the past three bi-monthly monetary policy reviews, the rate has remained unchanged. The Monetary Policy Committee (MPC), led by RBI Governor, commenced discussions on October 4.The government has tasked the Reserve Bank with the responsibility of ensuring that Consumer Price Index (CPI)-based retail inflation remains within 4 percent, with a margin of 2 percent on either side. In August, retail inflation stood at 6.83 percent, exceeding the RBI s comfort level.During an unscheduled meeting in May 2022, the MPC raised the policy rate by 40 bas

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