RBI MPC Meeting Key Takeaways: Shaktikanta Das and co to fling a surprise this time around?
Monetary Policy Committee (MPC) will announce its bi-monthly policy decisions on Friday at 10:00 am, after a three-day meeting that began on December 4.
For the first time in over 30 months, the MPC is expected to focus more on slowing economic growth.
The RBI has kept its policy rate at 6.5% for the last ten meetings, maintaining a cautious stance on inflation, especially due to persistent high food prices, while remaining optimistic about growth prospects, thanks to favourable monsoons and hopes of a revival in capital expenditure.However, it shifted its stance from withdrawal of accommodation to neutral in the last meeting.
The central bank’s 7.2% GDP growth forecast for FY 2024-25 is under pressure after a 160-basis point miss in Q2.
Economists, including Goldman Sachs, have reduced their growth projections to 6%, and high inflation, driven by volatile food prices, has kept headline inflation at 6.2% in October. This growth-inflation divergence is expected to prompt the RBI to lower its GDP forecast and raise its inflation outlook.
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