RBI MPC meet LIVE: No difference between paper currency and CBDC, says Das

Catch all the latest updates on the RBI's bi-monthly monetary policy announcement today

9:37 AM

RBI may hike repo rate by 25 bps: Fitch Ratings

The Reserve Bank of India (RBI) may increase the repo rate by 25 bps and then stay on hold in all of 2023, Fitch Ratings has said. "The RBI has raised rates by a cumulative 190 basis points since the start of the tightening cycle in April 2022, lagging behind the (US) Fed's 350 basis points increases over the same period," Fitch said in the December edition of its Global Economic Outlook report.

 

9:20 AM

RBI can hike repo rate by 35 basis points, shows Business Standard poll

According to a Business Standard poll, the MPC is seen increasing the repo rate by 35 basis points in the upcoming meeting, taking the benchmark policy rate to 6.25 per cent. Both median and mode of the poll showed a rate hike of 35 bps.

 

9:06 AM

RBI's rate hike stance currently “withdrawal of accommodation”

The RBI's rate hike stance currently is at “withdrawal of accommodation”. While some economists expected that the reserve bank will keep its stance unchanged, some predict that the RBI's Monetary Policy Committee (MPC) will change the stance to neutral from accommodation, reported Bloomberg. 

While the bulk of the respondents of the BS poll forecast a less aggressive tightening action, some economists highlighted persistent risks on the inflation front.

8:39 AM

RBI MPC meet: Outlook on growth, inflation in focus

The Reserve Bank of India (RBI) is widely seen raising its key lending rate by 35 basis points on Wednesday as inflation continues to stay above its tolerance band but markets will be looking to its outlook on growth and prices for direction.

A strong two-thirds majority in a Reuters poll said it was still too soon for the central bank to take its eye off inflation, which slowed to 6.77% in October but has stayed above the upper end of the RBI's 2-6% tolerance band all year.

The central bank's outlook, which will accompany the rates decision, will be an important pointer to future policy moves, economists said.

 

8:25 AM

MPC meet: RBI hikes repo rate by 50 bps since June

While the RBI hiked the repo rate by 40 bps in the May MPC meeting, after that, the central bank increased the key interest rate by 50 basis points three times, in June, August, and September. 

India's retail inflation in the month of October stood at 6.77 per cent, softening from 7.79 per cent in September. 

 

8:08 AM

RBI MPC meet: Guv Das to announce bi-monthly monetary policy at 10 am

Reserve Bank of India (RBI) Governor Shaktikanta Das will announce the bi-monthly monetary policy on Wednesday as the central bank is expected to hike the repo rate by 35 basis points (bps). To contain the inflation, the central bank this year has hiked the basic lending rate by 190 bps, from 4.4 per cent in May to 5.9 per cent in September. 

According to a Business Standard poll, the MPC is seen increasing the repo rate by 35 basis points in the upcoming meeting, taking the benchmark policy rate to 6.25 per cent. Both median and mode of the poll showed a rate hike of 35 bps.

Governor Das will announce the rate decision at 10 am today and will address a press conference at 12 pm.