RBI monetary policy highlights: Last mile of disinflation is always challenging, sticky, says Governor Das

RBI MPC highlights: Catch all the highlights related to RBI's Monetary Policy Committee announcements here

10:20 AM

Robust growth prospects provide the policy space to remain focused on inflation : RBI Governor

"Growth has continued to sustain its momentum, surpassing all projections. Headline inflation has eased to 5.1 per cent during both January and February, and this has come down to 5.1 per cent in these two months from the earlier peak of 5.7 per cent in the month of December. Looking ahead, robust growth prospects provide the policy space to remain focused on inflation and ensure its descent to the target of 4 per cent," RBI Governor Shaktikanta Das said today.

 

10:17 AM

MPC will remain resolute in its commitment to align inflation to RBI's target, says Das

MPC will remain resolute in its commitment to align inflation to RBI's target of 4%, says RBI Governor Das

10:12 AM

RBI MPC: Standing deposit facility rate remains at 6.25%, says Governor Das

The Standing Deposit Facility rate remains at 6.25 per cent and the Marginal Standing Facility rate and Bank Rate remain at 6.75 per cent," RBI Governor Shaktikanta Das said today.

10:09 AM

MPC update: RBI's monetary policy decision based on majority of 5:1 vote, says Governor Das

10:07 AM

RBI MPC holds key repo rate steady

RBI's Monetary Policy Committee held the key repo rate unchanged for a seventh straight policy meeting today with economic growth also remaining strong.

10:06 AM

RBI MPC update: Repo rate left unchanged at 6.5%, says Governor Das

The Reserve Bank of India kept the main lending rate unchanged at 6.5 per cent. The repo rate was raised by a total of 250 basis points between May 2022 and February 2023.

9:49 AM

'Goldilocks' economy to prompt RBI to keep rates on hold: Reuters poll

Robust economic growth and moderating inflation means India's central bank will have room to keep interest rates on hold at its review this week and likely until July, economists told news agency Reuters. All 56 economists in the March 15-22 Reuters poll anticipate the RBI holding the repo rate at 6.50 per cent while most expect no change at least until July.

9:46 AM

RBI repo rate decision: Early rate-cut hopes fade with inflation threat on horizon

RBI is expected keep interest rates unchanged today, with chances of an early cut receding after the Centre warned of a coming heatwave and the economy grew faster than expected, according to a Bloomberg Report.

9:26 AM

RBI Monetary Policy Committee meet: Indian bond yields expected to be steady ahead of policy decision

Indian government bond yields are expected to open flattish today as participants await the Reserve Bank of India's first monetary policy decision of this financial year for guidance on the trajectory of interest rates. The yield on the benchmark 10-year is likely to trade in a 7.08 per cent-7.11 per cent range till the policy decision at 10:00 am, a trader with a private bank said. The yield closed at 7.0934 per cent on Thursday.

9:21 AM

RBI MPC meeting: Other key dates for FY25 MPC meets

The next MPC meetings will be held on the following dates:

June 5-7, 2024

August 6-8, 2024

October 7-9, 2024

December 4-6, 2024

February 5-7, 2025

9:09 AM

RBI Monetary Policy Committee meet: What Aditi Nayar, chief economist, ICRA, expects from the policy meet

“The upward revision in the National Statistical Office’s gross domestic product (GDP) growth estimates for Q1-Q2 FY2024, three successive quarters of 8 per cent plus GDP expansion, and the CPI (consumer price index) print of 5.1 per cent for February 2024, suggest the status quo on rates and stance in the upcoming April 2024 meeting,” said Aditi Nayar, chief economist, ICRA. “ICRA believes the policy stance is unlikely to be changed before the August 2024 MPC review, until there is visibility on the monsoon turnout as well as the sustenance of growth momentum and the US Fed’s rate decisions,” she said.

8:53 AM

RBI Monetary Policy Committee outcome: What to expect?

Despite expectations for a potential shift, the domestic rate-setting panel opted to maintain the status quo in all six policy review meetings throughout the financial year 2023-24. The six-member Monetary Policy is expected to keep both the policy repo rate and the stance unchanged in the first policy review of FY25, according to experts.

8:50 AM

RBI Monetary Policy Committee FY25: What does MPC do?

The panel's objective is to keep the country's retail inflation within four per cent with a margin of two per cent on either side.

The MPC meets at least four times a year to hold talks on the direction the central bank wants to pursue in the financial year. The primary objective to strike a balance between sustaining growth and maintaining the inflation target. After their assessment, the pa decides whether to maintain, raise, or lower the repo rate.

8:41 AM

RBI MPC: What RBI Governor Shaktikanta Das said on GDP projection in the February meeting

On India's economy,  RBI Governor Shaktikanta Das said that in 2023-24 (FY24), the GDP is projected to grow at 7.3 per cent. For FY25, the GDP growth forecast has been kept at 7 per cent with Q1 at 7.2 per cent, Q2 at 6.8 per cent, Q3 at 7 per cent and Q4 at 6.9 per cent. 

8:35 AM

RBI Monetary Policy Committee FY25: Here is what was announced at the last MPC meeting

The RBI MPC had kept the repo rate unchanged at 6.5 per cent for the sixth consecutive time in the February meeting. The repo rate was last changed in February 2023, when it was hiked from 6.25 per cent to 6.5 per cent.