RBI Monetary Policy Committee meet: Date, time and what to expect

RBI Monetary Policy meet: The Reserve Bank of India’s Monetary Policy Committee (RBI MPC) begins its three-day deliberations today in Mumbai- the first such meeting after the announcement of the Interim Budget by Finance minister Nirmala Sitharaman.

RBI Monetary Policy meet: Reserve Bank of India (RBI) Governor Shaktikanta Das.
RBI Monetary Policy meet: Reserve Bank of India (RBI) Governor Shaktikanta Das.

RBI MPC meeting 2024: Date and time of the meeting?

The RBI MPC meeting starts on February 6 and ends on February 8. On February 8, RBI Governor Shaktikanta Das will announce the MPC decision at 10 am.

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RBI MPC meeting 2024: What is the purpose of the meet?

The committee has been formed by the government to ensure that 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.

RBI MPC meeting 2024: What to expect?

For five times in a row now, the RBI MPC has kept repo rate at 6.5 per cent. The benchmark interest rate was last raised in February 2023 to 6.5 per cent from 6.25 per cent. It remains to be seen what RBI MPC decides this time following the Interim Budget.

According to a report by SBI Research, the Reserve Bank of India (RBI) in its February Monetary Policy Committee (MPC) review meeting is expected to again put a pause on the repo rate.

“We expect the RBI to continue pause stance in upcoming policy. Strong US non-farm payroll data and wages seem to have pushed back on market expectations for a quick pivot to rate cuts,” said the research report Ecowrap.

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