RBI Monetary Policy
RBI Governor Shaktikanta Das will deliver the MPC decision today at 10 am. Follow all the latest updates from the press conference by following our RBI Monetary Policy Live Updates blog. You can also tune into our YouTube channel and watch RBI Governor's Live press conference
The Monetary Policy Committee or MPC of the Reserve Bank of India (RBI) will be meeting on April 3, April 5 and April 6, 2023, to discuss the first bi-monthly monetary policy for the fiscal year 2023-24. The central bank has already raised the repo rate by 250 basis points since May 2022 to control inflation.
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The RBI is responsible for ensuring that the retail inflation rate remains within the range of four per cent, with a margin of +/- two per cent. However, the inflation rate has exceeded six per cent for three consecutive quarters starting from January 2022. To address this issue, the Monetary Policy Committee (MPC) has been convened. This committee consists of three RBI officials and three external members who have been appointed by the central government.
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RBI Monetary Policy Date And Time
RBI Governor Shaktikanta Das will announce the MPC's decision on Thursday, April 6. The live press conference will begin at 10 AM.
Where To Watch RBI Monetary Policy Announcement Live
You can catch the live telecast of the RBI Monetary Policy announcement live on our BQ Prime YouTube channel.
Also, the live streaming of the address will be available on RBI's YouTube channel.
Moreover, you can tune in to our Live Blog on the day of the RBI Monetary Policy announcement on April 6 for regular updates.
What To Expect At The RBI Monetary Policy Meet?
The six-member Monetary Policy Committee, led by Reserve Bank Governor Shaktikanta Das, will consider various domestic and global factors before announcing its decision on Thursday, April 6. As per reports, the two crucial factors under consideration are the retail inflation rate and recent actions taken by the central banks of developed nations, including the US Federal Reserve, the European Central Bank, and the Bank of England.
Retail inflation, based on the Consumer Price Index or CPI, remained below six per cent for November and December 2022. However, it rose to 6.52 per cent in January and 6.44 per cent in February, breaching the RBI's comfort zone.
As reported in PTI, Chief Economist at Axis Bank Saugata Bhattacharya recently told reporters that he is expecting RBI to hike benchmark interest rate by 25 basis points. Experts also predict that Thursday's hike will likely be the last in the current monetary tightening cycle that began in May 2022.
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