Recent inflation data and outlook for prices of food suggests status quo on rates: ICRA
“The recent inflation data and the outlook for prices of food and commodities had suggested a status quo on the rates and stance in the upcoming June 2024 monetary policy review,” said Aditi Nayar, Chief Economist, Head of Research and Outreach at ICRA.
RBI Policy LIVE updates: Central bank’s policy stance
Since June 2022, the RBI has maintained its hawkish stance of “withdrawal of accommodation.” Most market pundits don’t expect a change to the relatively hawkish stance just yet.
RBI MPC LIVE update: Growth and inflation projections
The RBI is likely to maintain its projections of 7 per cent gross domestic product growth and 4.5 per cent average inflation in the financial year through March 2025.
Expectations from RBI’s monetary policy meet
Market analysts expect to see the repo rate, the rate at which the RBI lends money to commercial banks, remain unchanged at 6.5 per cent. According to a poll by Bloomberg, economists expect the central bank to maintain the repo rate at 6.5 per cent for the eight consecutive time.
What happened in the last RBI MPC meeting?
In the previous MPC meeting, the RBI kept the repo rate unchanged at 6.5 per cent. This was the seventh consecutive time the rate had been kept steady by the panel.
RBI Monetary Policy June 2024: Date and time
The RBI MPC meeting for June 2024 is taking place from June 5 to June 7, 2024. The results, including the official policy decisions, will be announced st 10 am today.
