RBI Monetary Policy: The Reserve Bank of India's (RBI) scheduled Monetary Policy meeting which began on Wednesday, December 6 will conclude on Friday, December 8.
RBI Governor Shaktikanta Das will convey the MPC announcements during his press conference scheduled on December 8. The MPC will discuss the current economic situation and decide on the future course of monetary policy.
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RBI Monetary Policy Date And Time
RBI Governor Shaktikanta Das will announce MPC's decision on Friday, December 8 at 10:00 AM while the policy press conference will be telecasted at noon on the same day.
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Where To Watch RBI Governor Shaktinkanta Das Press Conference Live?
Live streaming of the RBI Monetary Policy announcement will be made available on our YouTube channel.
The live streaming of the address will also be available on RBI's YouTube channel. You can also follow our live blog to stay updated with all the latest announcements from RBI Governor Shaktikanta Das' press conference at 10 am.
RBI Monetary Policy: What To Expect?
The Monetary Policy Committee is likely to maintain its status quo on the RBI's key lending rate even as inflation eases and economic activity stays resilient. Of the 38 economists polled by Bloomberg, all except one expect the MPC to hold the rates on the Reserve Bank of India's repo rate on Friday. The benchmark policy repo rate currently stands at 6.5%.
Rahul Bajoria, chief economist at Barclays, in a note said - "With strong growth momentum, core inflation declining, and the global backdrop turning more benign, the RBI's policy optionality is widening. Still, we expect the bank to stay cautious, taking macro prudential steps to curb lending, while keeping an eye on supply shocks and potential second-order inflationary effects."
RBI Monetary Policy Highlights - August 2023
The Monetary Policy Committee had decided to keep the benchmark repo rate unchanged for the fourth straight quarter after their meeting in August.
Following the review, the MPC decided:
To keep the repo rate unchanged at 6.5% unanimously.
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 at 6.75%.
The committee had raised the benchmark repo rate by 250 basis points in the last cycle before opting for a pause in April, June and August.
The MPC had also decided to remain focused on the withdrawal of accommodation to ensure that inflation progressively aligns with the target, while supporting growth.
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