RBI Monetary Policy meeting April 2024 starts today; know date, time and all other key details of MPC meet | India Business News

msid 109002215,imgsize 72650

RBI MPC meet schedule April 2024: The Reserve Bank of India‘s Monetary Policy Committee (MPC) decides India’s monetary policy, especially the repo rate, which impacts borrowing and loan rates. The upcoming MPC meeting is scheduled from April 3rd to 5th, 2024, with the outcome set to be announced on April 5th at around 10 AM by RBI governor Shaktikanta Das.
This meeting marks the beginning of the financial year’s first bi-monthly review, where key decisions regarding interest rates are made.It’s expected that the committee will likely maintain the repo rate at 6.5%, given concerns about inflation. However, the final decision will be disclosed on April 5.
The MPC meetings occur regularly throughout the year, with five more scheduled for June, August, October, December, and February. These meetings are important where the committee evaluates various economic indicators to set the country’s monetary policy.
In February’s meeting, the MPC decided to keep the repo rate unchanged at 6.5%, maintaining consistency for the sixth consecutive time. The repo rate is the rate which determines the interest rate at which the RBI lends to other banks.
ALSO READ | Penal charge, interest on your loan? New RBI rules from April 1 – what borrowers should know
Experts suggest that the current economic outlook may not favour a rate cut. Despite recent positive economic indicators, concerns about inflation persist, which could influence future rate adjustments.
The RBI’s goal of maintaining inflation within the two-six percent comfort range remains a key priority. In February, inflation stood at 5.09%, above the ideal 4% scenario, but within RBI’s comfort zone.
Analysts predict that the RBI might initiate a rate cut cycle in the third quarter of the financial year 2024-25, aligning with the central bank’s focus on achieving sustainable inflation levels. S&P Global Ratings forecasts potential rate cuts of up to 75 basis points in the financial year, while Morgan Stanley expects rate cuts to commence from June 2024.

Source link

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button