The Reserve Bank s MPC, led by Shaktikanta Das, likely to keep the interest rate unchanged in the upcoming policy amid improving economic growth. The outcome of the MPC meet will be announced on Friday, the first of the 2024-25 bi-monthly policies.
Wednesday s dates are for the next financial year, with meetings scheduled all the way till February, next year. The second meeting will be held from June 5-7 while the next meeting is scheduled between August 6-8.
The RBI Governor-led MPC is currently holding three-day deliberations to decide on short-term lending rates. The retail inflation remains near the higher end of the central bank s comfort zone, leading to expectations of a continued status quo on interest rates. The RBI has kept the repo rate stable at 6.5% for almost a year, with the last rate hike occurring in February 2023. While the retail inflation has declined from its peak, it is still high at 5.69% in December 2023. Governor Das will announce the MPC s decision on Thursday.
The Reserve Bank of India s Monetary Policy Committee (MPC), headed by Governor Shaktikanta Das, has started its three-day meeting. Experts predict that the MPC will maintain the current interest rates due to elevated inflation and global factors. Retail and corporate borrowers can expect stability in interest rates if there is no change. Despite expectations of a decrease in inflation in September and October, experts believe that a rate hike is unlikely.