RBI MPC Meet 2024 Live: Reserve Bank of India governor Shaktikanta Das on Thursday will announce the bi-monthly policy amid expectations of continued pause on key interest rate.
The central bank has kept the repo rate stable at 6.5 per cent. The benchmark interest rate was last raised last February to 6.5 per cent from 6.25 per cent to contain inflation that was driven by global developments. It was left unchanged in December 2023 meet.
The retail inflation in the current financial year has declined after touching a peak of 7.44 per cent in July 2023. However, it is still high and was 5.69 per cent in December 2023, though within the Reserve Bank’s comfort zone of 4-6 per cent.
The Monetary Policy Committee (MPC) headed by the RBI governor started its three deliberations on Tuesday. He will make the monetary policy announcement at 10 am
Experts across sectors are of the view that the central bank for the sixth time in a row will not tinker with the repo rate, which currently stands at 6.5 per cent mainly due to concerns over inflation.
The government has mandated the central bank to ensure the retail inflation based on the Consumer Price Index (CPI) remains at 4 per cent with a margin of 2 per cent on either side.
The MPC is entrusted with the responsibility of deciding the policy repo rate to achieve the inflation target, keeping in mind the objective of growth.
Follow all the updates here: