RBI MPC Meeting Highlights & Updates

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RBI MPC Meeting

Amid expectations that the central bank will keep the bench markets unchanged, the Reserve Bank of India’s rate-setting monetary policy will begin deliberations.

Headed by Reserve Bank governor ShaktiKanta Das, the 6-member Monetary Policy Committee is meeting for three days (August 8th to August 10th).

The decision of the RBI MPC meeting will be announced on August 10th at 10 am. The central bank has kept the repo rate unchanged at 6.5 % since last year.

Expectations from RBI MPC Meeting

The general expectation from RBI monetary policy is a cautious and hawkish stance. The rise of inflation is leading to an increase in food prices, more so in the promotion of vegetables in July.

In June consumer price index (CPI) showcased an inflation rate of 4.81 %. In the coming days, CPI is expected to elasticate due to the erratic impact of the monsoon. 

The view is that RBI to keep the repo rates and the stance unchanged in the coming policy. With GDP growing in the first quarter is expected to be close to 8% this, indicating stability.

Hence there is no compelling reason to spur growth respectively. The repo rate is expected to remain unchanged till the year-end, and this is one of the pivotal points of RBI news.

 Key Highlights of RBI MPC Meeting

  • The monetary policy committee of India decided by a 5: 1 majority on the withdrawal of accommodation to ensure that the inflation progressively aligns with the target and supports growth.
  • Professor Jayanth Varma voted against the MNCs stance resolution.
  • Deputy Governor T Rabi Shankar said that the objective of the RBI MPC meeting is to achieve one billion customers for the central bank digital currency by the end of June.
  • The solid fundamentals for housing demand will keep the momentum upward for reality sales and look for the right products regarding affordability, reliability, and quality of living.

Overall, the government will frame its policy actions to boost demand even more and incentivize individuals to acquire more real estate, as the sector is the key driver of economic growth.

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