RBI monetary policy meeting begins today: Here's all you need to know
Bank of India (RBI) began on Wednesday, December 6. RBI Governor Shaktikanta Das will disclose the decision of the Monetary Policy Committee (MPC) around 10 am on Friday, December 8. There is widespread anticipation of rates staying as it is after the RBI MPC meeting even as inflation has eased significantly and economic growth remains strong.
“There is a strong likelihood that RBI-MPC will keep the benchmark repo rate unaltered at 6.50 per cent in the upcoming meeting and thereby continue with the pause mode for the fifth consecutive policy review. It’s also unlikely that there will be any revision in the monetary policy stance of withdrawal of accommodation," said Suman Chowdhury, Chief Economist and Head – Research, Acuité Ratings & Research. The three-day meeting of the RBI's rate-setting panel started on Wednesday, December 6 and the outcome is due on Friday, December 8.
RBI Governor Shaktikanta Das will unveil the MPC decision around 10 am on Friday (December 8). After the MPC decision which starts around 10 am, RBI Governor Das will address a post-policy press conference at noon on December 8. Also Read: RBI Monetary Policy Committee meeting: Check the date, time, and where to watch here Experts are of the view that the RBI will stay cautious about inflation which is still above its 4 per cent target.
Crude oil prices have been volatile and concerns around El Nino and agricultural output persist. This will make the central bank stick to its pause mode. "We expect RBI to be cautious on the inflation front till the concerns on El Nino and agricultural output subside.
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