RBI Monetary Policy: Date, Time And Where To Watch Shaktikanta Das Press Conference Live
In its last MPC meet in October, the RBI had decided to keep the repo rates unchanged at 6.5%.
Monetary Policy: The Reserve Bank of India’s six-member Monetary Policy Committee on Wednesday began its three-day deliberations to determine the key lending rates. RBI Governor Shaktikanta Das will announce the MPC decision at 10 am on Friday.
In its last MPC meeting in October, the RBI had decided to keep the repo rates unchanged at 6.5%.
MPC will deliberate on key areas like interest rates, inflation, growth outlook and oil prices before making the necessary announcements during its press conference on Friday, December 6.
Here is everything you need to know about the RBI monetary policy review meeting.
For all the latest updates from the Governor's press conference follow our Monetary Policy Live Blog here.
RBI Monetary Policy: Date And Time
The RBI monetary policy review meeting will be held between December 4 and December 6. RBI Governor Shaktikanta Das is expected to announce the decisions of the monetary policy committee on Friday, December 6 at 10 am.
He will also address a press conference following the announcement.
Monetary Policy: Where To Watch Live?
The live streaming of the Monetary Policy announcement will be available on our NDTV Profit YouTube channel here or you can tap on the YT link below when the press conference begins at 10 am.
RBI Governor Shaktikanta Das' speech will be live-streamed by all the social media accounts of the central bank, including Facebook and X. The speech will also be live-streamed on RBI’s official YouTube channel. The post-announcement press conference will also be streamed live on these platforms.
NDTV Profit will also air the speech live on its television network. Viewers can awatch the speech of the governor on the NDTV Profit Live TV here.
Monetary Policy Expectations: Will RBI Cut Repo Rate?
The December monetary policy review comes days after India's GDP growth for the July-September quarter came in at a seven-quarter low of 5.4%. It also comes shortly after the October inflation shot up to 6.2%, going past the RBI’s target range of 2–6%.
According to 21 out of the 25 economists polled by Bloomberg, the MPC is expected to maintain a status quo for the eleventh straight time. This indicates that the RBI is likely to keep its benchmark lending rate, or the repo rate, unchanged at 6.5%.
“Despite the GDP growth print being significantly weaker than RBI's expectations, we think primacy of inflation will prevail for now," Barclay’s said.
The MPC is also expected to lower its GDP growth forecast of 7.2% for the full fiscal, amid slower growth data.
RBI Monetary Policy October 2024 Highlights
India's Monetary Policy Committee, led by RBI Governor Shaktikanta Das, kept the benchmark repo rate unchanged for the tenth straight meeting, but changed the stance to neutral, possibly paving the way for future rate cuts.
After the review, the MPC decided the following on lending rates:
To keep the repo rate unchanged at 6.5% with a 5:1 majority.
The standing deposit facility rate, pegged 25 basis points below the repo rate, is at 6.25%.
The marginal standing facility rate, which is 25 basis points above the repo rate, is 6.75%.
RBI Monetary Policy Meeting Schedule For 2024-2025
The next RBI Monetary Policy Committee meetings for FY 2024-25 will be held on the following dates:
Dec. 4-6, 2024
Feb. 5-7, 2025
The central bank holds six bi-monthly meetings annually. Previous meetings in this financial year took place in April, June, August and October.
