RBI MPC Meeting: The Reserve Bank of India (RBI) is all set to announce the monetary policy in its bi-monthly fiscal policy meeting on Wednesday. The central bank’s Monetary Policy Committee (MPC) began its latest meeting on October 7, 2024, and will be revealing its decision on key interest rates on October 9, 2024.
The meeting is being chaired by RBI Governor Shaktikanta Das and is the first meeting for the committee since it changed half of its members last week. The last time the MPC increased the repo rate was in February 2023. Ever since, the panel has maintained the key rates unchanged at 6.50 per cent.
Notably, the central government named three new members to the RBI MPC last week. These include economist Saugata Bhattacharya, Dr Nagesh Kumar, director and chief executive of the Institute for Studies in Industrial Development, and Professor Ram Singh, director of the Delhi School of Economics, University of Delhi. These members join the older members of the panel including Chairperson Das, Rajiv Ranjan (Executive Director), and Michael Debabrata Patra (Deputy Governor).
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When And Where To Watch MPC Live?
The key rates will be announced by the committee on Wednesday at 10 AM. You can stay tuned to ABP Live for comprehensive coverage and analysis of the committee’s decision on interest rates, fiscal policy, and the path ahead for the Indian economy.
The public can also access the press releases, meeting minutes, and all other documents related to the MPC on the Reserve Bank of India’s official website. You can opt to track the live updates of the meeting on the social media handles of the central bank on X and LinkedIn.
What Will Drive RBI's Decision?
The MPC is expected to take into consideration various factors before deciding on the key rates. The major aspects to drive the committee’s decision include global economic uncertainties, domestic growth prospects, and inflationary pressures.