RBI Monetary Policy Committee Meeting this week: Date, time and what to expect
RBI Monetary Policy Committee Meeting: The first policy meeting of the central bank's rate-setting panel for FY25 is scheduled this week from April 3-5, 2024. The Reserve Bank of India (RBI) has announced its schedule for the monetary policy committee (MPC) meetings in the upcoming financial year 2024-25 (FY25), which begins on April 1, 2024. After the April meet, subsequent meetings are set for June 2024, August 2024, October 2024, December 2024, and February 2025.
The MPC panel, led by RBI Governor Shaktikanta Das, consists of a total of six members. Das is expected to announce the decision on April 5 at 10 am. Also Read | RBI releases MPC schedule for FY25, first meeting to be held from April 3-5; check details — April 3-5, 2024 — June 5-7, 2024 — August 6-8, 2024 — October 7-9, 2024 — December 4-6, 2024 — February 5-7, 2025.
The RBI has maintained the repo rate at 6.5 percent since February 2023. As the MPC deliberates, expectations are that market fluctuations may persist, particularly affecting stocks sensitive to interest rate changes. Analysts and economists anticipate the central bank to maintain its current approach, aiming to align India's inflation with its target following the recent dovish stance of the US Federal Reserve.
The Fed foresees three rate reductions in 2024, contingent on US inflation nearing its two per cent objective. All 56 economists part of a Reuters poll from March 15-22 said they anticipate the RBI keeping the repo rate steady at 6.50 percent during its upcoming meeting. Nonetheless, there was a split among economists regarding the timing of the initial rate cut in 2024.
Read more on livemint.com
