RBI monetary policy meeting: Date, schedule, time, and expectations from Governor Shaktikanta Das
Shaktikanta Das, the six-member Monetary Policy Committee (MPC) will meet for three days (8-10 August) and the decision would be announced on 10 August at 10 am by the Governor. The central bank has kept the repo rate unchanged at 6.5% since February this year. RBI Governor Shaktikanta Das will announce the MPC's decision on Thursday, August 10 at 10 am while the policy press conference will be telecast at 12 noon.
You can catch the live telecast of the RBI Monetary Policy announcement on RBI's YouTube channel. “We expect the RBI to maintain a cautious and hawkish stance in its upcoming monetary policy meeting. The rise in inflation is also causing a rise in food prices, specifically in the price of vegetables in July.
In June, the Consumer Price Index (CPI) showed an inflation rate of 4.81%. Similarly, core inflation in June was lower at 5.1% than 5.2% in May. As a result, CPI is likely to accelerate in the next few months because the erratic effects of monsoon has affected the farmers.
Floods in the northwest and insufficient precipitation in the south and east have slowed harvesting. The market for cereals is actually on the rise, both domestically and internationally. In particular, the latter category is impacted by geopolitical developments such as the Black Sea grain trade agreement.
Furthermore, El Nino-related weather uncertainties exist, elevating the possibility of a delayed start to the policy easing cycle. Subsequently, the surprise surge in retail inflation for June has pushed the rate cut possibilities to the next financial year," said Mahesh Agarwal National Head Wealth at AUM Capital Hence, we expect RBI to keep the policy rates and stance unchanged in the forthcoming policy, he added. “We do expect a
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