RBI Monetary Policy: The Reserve Bank of India's (RBI) scheduled Monetary Policy Meeting which began on October 4 will conclude on October 6.
RBI Governor Shaktikanta Das will convey the MPC announcements during his press conference scheduled on Friday. The Monetary Policy Committee or MPC will discuss the current economic situation and decide on the future course of monetary policy.
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 here -> Monetary Policy Live Updates
Tap on the link below to watch the press conference live
RBI Monetary Policy Date And Time
RBI Governor Shaktikanta Das will announce the MPC's decision on Friday, October 6 at 10:00 am while the policy press conference will be telecasted at 12:00 pm on the same day.
When and Where to watch RBI Governor Shaktinkanta Das Press Conference live?
Live streaming of the RBI Monetary Policy announcement will be avilable on the BQ Prime 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?
All economists polled by Bloomberg 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 6.50%.
"The RBI will have little reason to change the current policy settings, and we expect the MPC to keep the repo rate unchanged at 6.5% at the Oct. 6 meeting, flagging waning core inflation, steady economic activity, and some risks of more supply-related price shocks, providing little cue for a change in policy thinking," said Rahul Bajoria, chief economist at Barclays.
India's Monetary Policy Committee is likely to maintain the status quo on the RBI's key lending rate amid easing inflation and resilient economic activity even as headwinds from higher oil prices and erratic monsoons intensify.
RBI Monetary Policy Repo Rate
Here's how the repo rate has changed over the course of last 22 years.
RBI Monetary Policy Highlights - August
In August 2023, India's Monetary Policy Committee decided to keep the benchmark repo rate unchanged for the third straight meet, but with preparedness to undertake policy responses, should the situation so warrant.
Following the review, the MPC had 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 stance on withdrawal of accommodation remained unchanged with a 5:1 majority. Jayanth R Varma expressed reservations on this part of the resolution.
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