Mumbai: Reserve Bank of India Governor Shaktikanta Das addresses during the 188th AGM of Bombay Chamber Of Commerce & Industry, in Mumbai, Tuesday, June 25, 2024. (Photo: PTI)
RBI MPC Meeting 2024 LIVE updates: New MPC makes its debut
Economists are of the opinion that it is unlikely the new members will vote against the three other RBI officials on the MPC so early on. The new members might “agree with RBI’s house view for some time,” said Rahul Bajoria, an economist at Bank of America Corp. “Still, incoming near-term data is much more mixed, and growth risks appear tilted to the downside,” he said.
Cautious optimism despite concerns on food inflation, crude prices: Anwin George, Geojit Financial Services
“With the inflation rate at 3.65 per cent in August, falling below the 4 per cent target, there is cautious optimism despite ongoing concerns about food inflation and crude prices due to Middle East tensions. The favourable monsoon and the Fed’s rate cut provide the RBI with ample opportunity to adjust its policy and implement rate cuts in the foreseeable future. This is expected to support the market in the long run by providing liquidity and bolstering the economy’s growth trajectory,” Anwin Aby George, Research Analyst, Geojit Financial Services, said.
‘Withdrawal of accommodation’ expected to be retained in October: Gaura Sengupta, economist, IDFC First Bank
“The policy stance is expected to be unchanged (withdrawal of accommodation). In the past the RBI has preferred to retain policy flexibility by not providing policy guidance. The change in stance has been linked to the future policy rate path and delinked from liquidity. Hence, the stance of ‘withdrawal of accommodation’ is expected to be retained in October. The key change will be a more positive assessment on the inflation outlook,” said Gaura Sengupta, economist, IDFC First Bank.
RBI MPC Meeting 2024 LIVE updates: What were the highlights of the last RBI MPC meet?
The monetary policy committee maintained its ‘withdrawal of accommodation’ stance and kept the repo rate unchanged at 6.5 per cent. External members Jayanth Varma and Ashima Goyal had backed a 25-basis-point rate cut and a neutral stance.
Analysts expect the central bank to maintain its current ‘wait-and-watch’ stance
The meeting will provide insight into India’s broader economic growth trajectory. Reports indicate that market analysts expect the central bank to maintain its current ‘wait-and-watch’ stance. However, some believe that the persistent inflationary concerns could prompt a potential rate hike.
RBI likely to hold rates for 10th time, shows BS poll
All the 10 respondents polled by Business Standard stated that the reconstituted six-member Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI) is expected to maintain the “status quo” for the 10th consecutive policy review. Respondents said that the decision to keep rates unchanged would be based on the ongoing risk of food inflation, as daily retail prices, particularly those of vegetables, continue to trend upward.
RBI MPC Meeting 2024 LIVE updates: Expecting more nimble and prudent guidance
While no rate action is expected immediately, there is merit in changing the monetary policy stance to “neutral”, in my opinion. RBI will also continue to stay nimble and prudent in managing liquidity with no tool being off the table.
RBI MPC Meeting 2024 LIVE: Repo rate expected to remain unchanged at 6.5%
It is expected repo rate will remain unchanged at 6.5 per cent, however several experts predict a switch to a ‘neutral’ stance for the first time since June 2019 from its current hawkish view.
RBI MPC Meeting LIVE updates: In last MPC meet, RBI decided to keep repo rate unchanged at 6.5%
In its 50th monetary policy review, the RBI’s MPC decided to keep the repo rate unchanged at 6.5 per cent, maintaining its ‘withdrawal of accommodation’ stance. This was primarily due to food inflation-related concerns. External members Jayanth Varma and Ashima Goyal had advocated for a 25-basis-point rate cut and a neutral stance.
RBI MPC Meeting LIVE: Policy committee is set to discuss key issues influencing India’s monetary policy
The MPC is set to discuss key issues influencing India’s monetary policy. That includes inflationary pressures on food and fuel, rising crude oil prices, and tensions in West Asia. The meeting will also provide insight into India’s broader economic growth trajectory. Reports indicate that market analysts expect the central bank to maintain its current ‘wait-and-watch’ stance. However, some believe that the persistent inflationary concerns could prompt a potential rate hike.
RBI MPC Meeting LIVE updates: When and where to watch?
The decision on interest rates will be announced by Governor Das at 10 am today, followed by a press conference at noon. Both the announcement and the press briefing will be live-streamed across the RBI’s official social media channels, including YouTube, Facebook, and X (formerly Twitter).
RBI MPC Meeting LIVE: This meeting is first under new policy committee following the appointments last week
Three new members were inducted into the MPC, replacing outgoing external members. Economist Saugata Bhattacharya, Dr Nagesh Kumar, director and chief executive at the Institute for Studies in Industrial Development, and Ram Singh, director of the Delhi School of Economics, now join Governor Das, executive director Rajiv Ranjan, and Deputy Governor Michael Debabrata Patra on the panel.
RBI MPC Meeting LIVE: Decisions from the fourth RBI MPC meeting to be announced today
The Reserve Bank of India’s (RBI) Monetary Policy Committee (MPC) began its three-day deliberations on Monday. Led by RBI Governor Shaktikanta Das, the committee is expected to decide on key areas including interest rates, inflation, and global oil prices, as well as the country’s growth outlook. The decisions from this meet will be announced today.
First Published: Oct 09 2024 | 6:46 AM IST
