Business Standard

RBI monetary policy committee begins deliberations on finalising key rates

The Reserve Bank of India's rate-setting monetary policy committee (MPC) on Tuesday began its three-day long deliberations on deciding the key repo rates

rbi, reserve bank of india

IANS New Delhi

Listen to This Article

The Reserve Bank of India's rate-setting monetary policy committee (MPC) on Tuesday began its three-day long deliberations on deciding the key repo rates.

The panel will announce, on June 8, its decision whether to hold the rates (which it had done during it's previous meeting in April) or revise them upwards or cut them.

In April, the MPC had kept the benchmark interest rates unchanged at 6.5 per cent on the back of easing retail inflation and the need to push economic growth.

Earlier, the RBI had cumulatively hiked the repo rate by 250 basis points since May 2022 in a bid to contain inflation.

 

The MPC is meeting in the backdrop of retail inflation declining to an 18-month low of 4.7 per cent in April.

RBI Governor Shaktikanta Das heads the six-member MPC.

--IANS

ans/vd

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Jun 06 2023 | 9:14 PM IST

Explore News