Page 6 - Mpc

RBI Policy: With unanimous vote, MPC keeps repo rate unchanged at 6.5%

RBI policy meet: Shaktikanta Das also announced a revised retail inflation projection for FY24 at 5.4 per cent from 5.1 per cent earlier

Rupee rises by 5 paise to 82.80 against US dollar ahead of MPC announcement

The rupee appreciated by 5 paise to 82.80 against the US dollar in early trade on Thursday ahead of the Reserve Bank of India's monetary policy decision. However, weak domestic equities and elevated crude prices weighed on the local unit, said analysts. Investors were trading cautiously ahead of the Reserve Bank's rate-setting panel MPC's monetary policy decision. The MPC meeting started its three-day review meeting on Tuesday. At the interbank foreign exchange, the domestic unit opened stronger at 82.81 against the dollar and touched 82.80, registering a gain of 5 paise over its previous close. On Wednesday, the rupee appreciated 6 paise to settle at 82.85 against the dollar. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, fell by 0.02 per cent to 102.47. Global oil benchmark Brent crude was trading 0.14 per cent lower at USD 87.43 per barrel. In the domestic equity market, the 30-share BSE Sensex was trading 211.55 points

'RBI need not rush to ease rates unless certain of stable-low inflation'

Bhide's comments echo that of Governor Shaktikanta Das that a pivot can be considered when price-gains settle near the mid-point of its 2%-6% range on a durable basis

Rate hikes depend on India's inflation, not Fed, say external MPC members

Domestic markets have been concerned about India being pressured to follow the US Federal Reserve in raising rates to ensure that a too-narrow rate differential does not restrict dollar inflows

RBI needs monsoon to deliver before weighing rate cuts in next MPC meet

The weather announcement on Thursday provided some relief to the rate-setters and millions of farmers across India, but the concerns are not quite over

All boxes ticked

RBI is rightly focused on the inflation target

Monetary policy: RBI maintains status quo, turns hawkish on inflation

The central bank retained the growth projection for FY24 at 6.5 per cent

MSP increase to impact CPI inflation by 10-12 basis points, says RBI

'Banks have been cautious. I think there is still some amount of liquidity sitting there', said Das

RBI's decision to keep repo rate unchanged on expected lines: Experts

The Reserve Bank of India's decision to keep policy rates unchanged was on expected lines, banking and financial experts said on Thursday. The Monetary Policy Committee (MPC), which has three members from RBI and an equal number of external experts, voted unanimously to keep the benchmark repurchase, or repo rate unchanged at 6.50 per cent. Punjab National Bank MD & CEO Atul Kr Goel said that keeping policy rates unchanged was "in line with the market expectations" in view of easing retail inflation and anticipation of a further decline. He also said that maintaining the growth projection of GDP for the current financial year at 6.5 per cent reflects that RBI remains sanguine about economic growth. Bandhan Bank Chief Economist and Head of Research said the status quo on the repo rate in the MPC meeting was "almost a foregone conclusion". "Interestingly, despite lowering the consumer price index inflation forecast for the first quarter of the current fiscal by 50 basis points, the

Market snaps four-day winning streak ahead of RBI MPC announcement

The blue-chip Nifty 50 index closed 0.49% lower at 18,634.55, while the benchmark S&P BSE Sensex fell 0.47% to 62,848.64

MPC won't cut repo rate anytime soon, not before US Fed, says experts

The Reserve Bank of India's (RBI) Monetary Policy Committee (MPC) will not revise downwards the repo rate anytime soon and that too not ahead of the US Federal Reserve, said economists

Run-up to monetary policy review: Expected pause, surprise on stance?

A change in stance could be inferred by the markets as a definite sign of rates peaking

A long pause

Central bank communication will be crucial

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RBI may maintain pause on interest rate as inflation declines: Experts

The Reserve Bank of India (RBI) will maintain the policy repo rate at 6.5 per cent during its upcoming June 8 announcement, considering the easing of retail inflation in April and the potential for further decline, indicating the effectiveness of previous policy rate actions, anticipate experts. Headed by Reserve Bank Governor Shaktikanta Das, a meeting of the six-member Monetary Policy Committee (MPC) is scheduled for June 6-8. The decision of the 43rd meeting of the MPC would be announced on Thursday, June 8. After the last MPC meeting in April, the RBI paused its rate hike cycle and stayed with the 6.5 per cent repo rate. Prior to that the central bank 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 consumer price-based (CPI) inflation declining to an 18-month low of 4.7 per cent in April. The Reserve Bank governor recently indicated that the May print would be lower than the April number

RBI-MPC may lower inflation forecast marginally: BoB Chief Economist

The consumer price index (CPI) inflation moderated in April-23 to 4.70 per cent year-on-year (YoY) and remained within the RBI's target range (2-6 per cent) for the second consecutive month

Realistic assessment

Focus on improving growth prospects

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No hike needed if inflation within tolerance band: MPC member Ashima Goyal

In a Q&A, she explains why the rate setting panel's current focus should be to bring down inflation

Impact of MPC decisions to show in 4-5 quarters, says Shashanka Bhide

'The rate hikes started in May 2022 and cumulatively there is a significant increase in policy rate (250 basis points)'