The eagerly awaited Monetary Policy Committee meeting of the Reserve Bank of India (RBI) is set to conclude, with RBI Governor Shaktikanta Das announcing the decision on Thursday. The much-anticipated monetary policy statement will be presented at 10 am on the same day, revealing crucial decisions on the repo rate hike, reverse repo rate, and other related matters. In addition to these announcements, the RBI governor is expected to provide insights on the current domestic and global economic situation during the presentation. Following this, a press conference by the governor will be telecast at 12:00 pm, shedding further light on the policy decisions.
As per the RBI’s mandate, the central bank is responsible for ensuring that the retail inflation rate remains within the range of four per cent, with a margin of +/- two per cent. However, in recent times, the inflation rate has exceeded six per cent for three consecutive quarters starting from January 2022, posing a challenge for the central bank. To address this pressing issue, the Monetary Policy Committee (MPC) has been convened, consisting of three RBI officials and three external members appointed by the central government. The decisions taken during this MPC meeting will have significant implications for the Indian economy and are eagerly anticipated by market participants, policymakers, and the general public alike.
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