Page 10 - Mpc

GDP growth may have beaten MPC estimate of 6.3% in Q2, say most economists

The GDP numbers for the second quarter of the current financial year are scheduled to be out by this month end

RBI's MPC meets to draft letter to govt on missing inflation target

The meeting was chaired by RBI Governor Shaktikanta Das and attended by all the other five members of the rate setting panel

Rate setting panel meets to draft report on missing inflation target: RBI

The Reserve Bank's rate setting panel met on Thursday to discuss and draft a report for the government on why it failed to keep retail inflation below the target of 6 per cent for three consecutive quarters since January this year. "A separate meeting of the Monetary Policy Committee (MPC) was held on November 3, 2022 to discuss and draft the report to be sent to the Government by the Reserve Bank of India (RBI) under the provisions of Section 45ZN of the RBI Act, 1934 and Regulation 7 of RBI MPC and Monetary Policy Process Regulations, 2016," the central bank said in a statement. Section 45ZN of RBI Act deals with failure to maintain the inflation target. The meeting was chaired by RBI Governor Shaktikanta Das and attended by all MPC members -- Michael Debabrata Patra, Rajiv Ranjan, Shashanka Bhide, Ashima Goyal and Jayanth R Varma. The RBI Act requires the central bank's MPC to report to the government reasons for failure to meet the retail inflation target as well as measures to

After Fed hike, experts can't form consensus on expected MPC response

In September review, panel talked about aggressive monetary policy actions and stances across the world

RBI's MPC to explain first inflation miss since 2016 to government today

This is the first time the Reserve Bank of India is writing such a letter after the country switched to a flexible inflation-targeting regime and formed a committee in 2016 to set interest rates

RBI's letter may cite Ukraine war as main reason for high inflation: Report

For the past few months the MPC's and the governor's conduct has pointed at the war in Ukraine as the main reason for inflation staying above 6 per cent for three consecutive quarters

A healthy debate: The case for and against interest rate hike

Having raised policy rates to about 6 per cent, does India's Monetary Policy Committee need to do more? And, if so, is more front-loading warranted?

On high inflation, here is what RBI needs to tell govt: It is your fault

All the research since 1980 shows that loose fiscal policy causes inflation, and the RBI MPC needs to tell the govt just that

Upbeat mood in India decoupled from pessimism in rich countries

To combat the cost of living crisis, the central banks of most countries have raised interest rates and curbed excess money supply

RBI release suggests Nov MPC meet only to discuss inflation target failure

MPC may decide RBI's response to govt on the matter; Unlike earlier off-cycle meetings in which interest rate action was taken outside schedule without prior notice, this one was announced in advance

Inflation above target: MPC to meet on Nov 3 to discuss response to govt

The announcement notifying an additional meeting of the MPC has been made as per Section 45ZI (4) of the RBI Act 1934, the RBI said on Thursday

RBI should focus on softening core inflation: MPC's Shashanka Bhide

"As far as monetary policy is concerned, moderation in the core inflation should be the priority," Shashanka Bhide, an external member of the Reserve Bank of India's monetary policy committee, said

Inflation to fall below 6% next year amid RBI rate hikes: Ashima Goyal

RBI Monetary Policy Committee (MPC) member Ashima Goyal on Wednesday said that the efforts of the Reserve Bank to contain price rise by repeatedly increasing interest rates will help in containing inflation, which is likely to fall below 6 per cent next year. Goyal further said that the policy rate hikes have largely reversed pandemic-time cuts but the real rate remains low enough not to hurt the growth recovery. "With a lag of two-three quarters, higher real rates will reduce demand in the economy. "International commodity prices are softening with the global slowdown and supply chain bottlenecks have reduced," she told PTI in a telephonic interview. In order to control rising inflation, the RBI on September 30, raised the short-term lending rate for the third consecutive time by 50 bps to take the repo rate to 5.9 per cent. Since May it has cumulatively increased the key interest rate by 190 basis points. "The Indian government is also taking action to reduce supply-side inflati

Competition for funds drives SBI to hike savings deposit rate by 30 bps

Balances of Rs 10 cr and above to earn 3% rate of interest Oct 15 onwards; 2.7% rate unchanged on deposits below Rs 10 cr

SBI hikes interest rate on savings deposits above Rs 10 crore by 30 bps

The deposits will attract an interest rate of 3%, effective Oct 15. Balances up to Rs 10 cr to earn 2.7% interest

India's real rate shouldn't be more than 1%: MPC member Ashima Goyal

In a Q&A, she says the interest differential with US does not matter so much because India has caps on interest sensitive inflows. Overseas investment is a very low share of the country's debt market

Why this is not the time to take on very long-term fixed deposit investment

For periods longer than 3 years, it is a good idea to explore debt mutual funds that offer indexation benefits and lower the tax outgo

Sharp differences among MPC members on future interest rate hikes

The next review of the monetary policy committee is scheduled on December 5-7

RBI's repo rate hike was necessary to combat inflation risks: MPC minutes

The MPC is of the view that further calibrated monetary policy action is warranted to keep inflation expectations anchored

Top headlines: India Inc's overseas fundraising, Vistara-AI merger talks

From Vistara-Air India merger discussions to India Inc's fundraising, here are the top headlines on Friday morning