RBI Monetary Policy LIVE Updates: RBI MPC likely to keep repo rate unchanged; inflation, GDP forecast eyed
RBI Monetary Policy LIVE Updates: The Reserve Bank of India (RBI) Governor Shaktikanta Das is set to announce the second bi-monthly monetary policy of the financial year 2024-25 on Friday. This RBI policy will be the first one after the Lok Sabha election results 2024. The RBI Governor headed six-member Monetary Policy Committee (MPC) is expected to keep the benchmark repo rate unchanged at 6.5% for the eight consecutive time and continue with its stance of ‘withdrawal of accommodation’.
RBI MPC began its three-day meeting on June 5 and the decision is due on Friday, June 7. RBI Governor’s commentary on inflation and future interest rate cut trajectory will be keenly watched. Stay tuned to the RBI MPC Meeting Live blog for the latest updates.RBI MPC Meeting Live: RBI last hiked the repo rate to 6.5% in February 2023.
As per experts, the central bank may keep the benchmark policy rates at the current level until October.India’s economic activity continues to remain resilient and its outlook for the current financial year remains strong. India's gross domestic product (GDP) for the January-March quarter of fiscal 2023-24 (Q4FY24) was at 7.8%, driven by strong growth in the manufacturing sector. The Indian economy grew by 8.2% for the full year (FY24).
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