RBI MPC Meet LIVE News Updates: It is expected that the RBI will maintain its current interest rates unchanged during its upcoming meeting, with the likelihood of an immediate reduction diminishing. This shift comes after the government issued a caution regarding an impending heatwave and the economy demonstrated a quicker growth trajectory than initially anticipated.It is the first bi-monthly monetary policy of 2024-25. A total of six MPC meetings are scheduled for the fiscal year beginning April 1, 2024.According to a recent survey conducted by ET with 14 participants, it is anticipated that the Monetary Policy Committee (MPC) of the central bank will decide to maintain the repo rate at 6.50% during the conclusion of their three-day meeting on April 5. If this prediction holds true, it would signify the seventh consecutive instance where the committee has chosen to keep the repo rate unchanged at its present level.The repo rate, which denotes the rate at which the RBI lends to banks,
RBI MPC Meet LIVE News Updates: RBI Governor Shaktikanta Das will announce the decisions of MPC’s last bi-monthly meeting of FY24 today. Maintaining a steady course, the Reserve Bank has upheld the repo rate at 6.5 percent for the past year. The last adjustment occurred in February 2023 when the benchmark rate was raised from 6.25 percent to address inflationary concerns driven largely by global economic dynamics.While there has been a moderation in retail inflation during the current fiscal year, following its peak at 7.44 percent in July 2023, it still remains elevated. As of December 2023, it stood at 5.69 percent, residing within the Reserve Bank s comfort range of 4-6 percent, albeit warranting ongoing vigilance.The Reserve Bank of India (RBI) is anticipated to maintain its current interest rates following its upcoming monetary policy review, as indicated by participants in a recent survey conducted by ET. However, some suggest that a fiscally conservative interim budget and
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 infl
RBI Monetary Policy Latest Update: For the fourth straight occasion, the monetary policy committee, through its October review meeting, unanimously decided to keep the policy repo rate unchanged at 6.5 per cent, thus maintaining the status quo.