RBI: Reserve Bank’s monetary policy review meeting will be held this week, experts told whether interest may increase or not

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rbi: Reserve Bank of India is going to hold a monetary policy review meeting from 6th to 8th of this week. Information about the results of this meeting will be given by RBI Governor Shaktikanta Das in a press conference at 10 am. In such a situation, the entire market is under eye top bank Is engaged on the decisions of.

It is being told that the Reserve Bank of India may maintain status quo on short-term interest rates in its bi-monthly monetary policy review this week. Experts have made this estimate on the basis that inflation is under control and the pace of economic growth is satisfactory. RBI has kept the policy repo rate unchanged in its last four bi-monthly reviews.

RBI last increased the repo rate to 6.5 percent in February 2023. Due to rising inflation due to the Russia-Ukraine war and disruptions in the global supply chain, the phase of increase in repo rates started in May 2022 and continued till February 2023. But the repo rate has remained stable since the bi-monthly monetary review in April 2023.

The meeting of the Monetary Policy Committee (MPC) headed by RBI Governor Shaktikanta Das will begin on December 6. In the context of monetary policy, the rate decision of the supreme policy regulator MPC will be announced on November 8. Madan Sabnavis, Chief Economist of Bank of Baroda, said that this time the central bank can maintain its old stance on policy interest rates as well as its monetary stance.

Madan Sabnavis said that the 7.6 percent growth recorded in GDP during the July-September quarter gives confidence that the economy is on track. Low inflation figures in the last few months also give scope that there is no need to increase rates.

Aurodeep Nandi, economist (India) at Nomura also expects the MPC to take a unanimous decision not to raise rates in its December policy meeting. Dhanuka Group Chairman RG Aggarwal also expressed similar hope and said that Indian agriculture should adopt technological progress and for this affordable financing is necessary.

RBI’s MPC has three external and three internal members. The external members are Shashank Bhide, Ashima Goyal and Jayant R Verma while the internal members include Governor Shaktikanta Das, Executive Director Rajeev Ranjan and Deputy Governor Michael Debabrata Patra.

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