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RBI MPC Meet 2024 LIVE: Inflation expected to moderate in 2024, says RBI governor

RBI MPC Meet 2024 Live: Monetary policy must continue to be actively disinflationary, RBI Governor Shaktikanta Das said in his statement
Summary

RBI MPC Meet 2024 Live: The retail inflation in the current financial year has declined after touching a peak of 7.44 per cent in July 2023

RBI governor Shaktikanta Das announced that the repo rate remained unchanged for the sixth time in a row.
RBI governor Shaktikanta Das announced that the repo rate remained unchanged for the sixth time in a row.

RBI MPC Meet 2024 Live: Reserve Bank of India governor Shaktikanta Das on Thursday said the central bank has kept the repo rate stable at 6.5 per cent. The benchmark interest rate was last raised last February to 6.5 per cent from 6.25 per cent to contain inflation that was driven by global developments. It was left unchanged in December 2023 meet....Read More

The retail inflation in the current financial year has declined after touching a peak of 7.44 per cent in July 2023. However, it is still high and was 5.69 per cent in December 2023, though within the Reserve Bank's comfort zone of 4-6 per cent.

The Monetary Policy Committee (MPC) headed by the RBI governor started its three deliberations on Tuesday.

Experts across sectors are of the view that the central bank for the sixth time in a row will not tinker with the repo rate, which currently stands at 6.5 per cent mainly due to concerns over inflation.

The government has mandated the central bank to ensure the retail inflation based on the Consumer Price Index (CPI) remains at 4 per cent with a margin of 2 per cent on either side.

The MPC is entrusted with the responsibility of deciding the policy repo rate to achieve the inflation target, keeping in mind the objective of growth.

Follow all the updates here:
Feb 8, 2024 11:19 AM IST

RBI MPC Meet: What RBI governor said on digital transactions, Aadhaar-enabled payment system?

Reserve Bank of India governor Shaktikanta Das on Thursday announced that the central bank will issue guidelines for a principle-based framework for authentication of digital payment transactions. Deep dive

Feb 8, 2024 10:46 AM IST

RBI MPC Meet 2024 LIVE: ‘Policy stance in terms of interest rate,’ says central bank governor

RBI Monetary Policy LIVE: “Our policy stance is in terms of interest rate, which is the principal tool of monetary policy in the current framework. Our stance of withdrawal of accommodation should be seen in the context of incomplete transmission and inflation ruling above the target of 4% and our efforts to bring it back to the target on a durable basis. So far liquidity conditions are concerned these are being driven by exogenous factors which are likely to correct in the foreseeable future, aided by our market operations,” the governor said

Feb 8, 2024 10:39 AM IST

RBI MPC Meet 2024 LIVE: ‘Financial market segments adjusted to evolving liquidity conditions’, says RBI governor

RBI Monetary Policy LIVE: “The Reserve Bank undertook six fine-tuning variable rate reverse repo auctions, that is, VRRR auctions from February 2 to February 7, 2024 to absorb surplus liquidity. Financial market segments have adjusted to the evolving liquidity conditions to varying degrees,” says governor

Feb 8, 2024 10:33 AM IST

RBI MPC Meet 2024 LIVE: ‘Reducing debt burdens key to create fiscal space for new investments’, says Governor

RBI Monetary Policy LIVE: “The public debt levels in advanced economies, in fact, are much higher than those in the emerging market economies. The challenges of debt sustainability in an environment of high-interest rates and low growth at the global level can become new sources of stress. Reducing debt burdens is necessary to create fiscal space for new investments in priority areas, including green transition,” says RBI governor Shaktikanta Das

Feb 8, 2024 10:29 AM IST

RBI MPC Meet 2024 LIVE: ‘Global public debt to GDP ratio projected to at 100% by end of decade’, says Guv

RBI Monetary Policy LIVE: RBI governor Shaktikanta Das says,"Amidst the current headwinds elevated levels of public debt are raising serious concerns on macroeconomic stability in many countries, including some of the advanced economies. The global public debt to GDP ratio is projected to reach 100% by the end of this decade."

Feb 8, 2024 10:24 AM IST

RBI MPC Meet 2024 LIVE: ‘Inflation expected to moderate further in 2024’, announces governor Shaktikanta Das

RBI Monetary Policy LIVE: “Global growth is expected to remain steady in 2024, with heterogeneity across regions. Though global trade momentum remains weak, it is exhibiting signs of recovery and is likely to grow faster in 2024. Inflation has softened considerably and is expected to moderate further in 2024. Financial markets are volatile as market participants adjust their expectations on the timing and pace of rate cuts by major central banks, who in any case remain cautious against premature easing in their fight against inflation,” says governor Shaktikanta Das

Feb 8, 2024 10:21 AM IST

RBI MPC Meet 2024 LIVE: Investment cycle gaining steam, says governor

RBI monetary policy LIVE: Investment cycle gaining steam aided by sustained thrust of government capital expenditure, says governor

Feb 8, 2024 10:15 AM IST

RBI MPC Meet 2024 LIVE: Monetary policy must continue to be actively dis-inflationary, says governor

RBI Monetary Policy LIVE: Monetary policy must continue to be actively dis-inflationary, says governor

Feb 8, 2024 10:13 AM IST

RBI MPC Meet 2024 LIVE: Uncertainty in food prices continue to impinge on headline inflation, says governor

RBI monetary policy LIVE: Uncertainty in food prices continue to impinge on headline inflation, says governor Shaktikanta Das

Feb 8, 2024 10:11 AM IST

RBI MPC Meet 2024 LIVE: Central bank keeps repo rate unchanged at 6.5 per cent

The Reserve Bank of India on Thursday kept its key policy rate unchanged at 6.5 percent in its Monetary Policy Committee (MPC) meeting on February 8. This is the the sixth consecutive time that the central bank has maintained a status quo. Deep dive

Feb 8, 2024 10:02 AM IST

RBI MPC Meet 2024 LIVE: RBI governor Shaktikanta Das to make big announcement shortly

RBI Monetary Policy LIVE: RBI governor Shaktikanta Das to make big announcement shortly. Will the repo rate remain unchanged?

Feb 8, 2024 9:49 AM IST

RBI MPC Meet 2024 LIVE: Centre mandated RBI to ensure retail inflation remains at 4%

RBI Monetary Policy LIVE: Experts across sectors are of the view that the central bank for the sixth time in a row will not tinker with the repo rate, which currently stands at 6.5 per cent mainly due to concerns over inflation. The government has mandated the central bank to ensure the retail inflation based on the Consumer Price Index (CPI) remains at 4 per cent with a margin of 2 per cent on either side.

Feb 8, 2024 9:34 AM IST

RBI MPC Meet 2024 LIVE: Analysts explain why RBI could vote for a rate pause

RBI Monetary Policy LIVE: "We expect the MPC (monetary policy committee) to unanimously vote for a (rate) pause and policy guidance to shift away from the current tightening bias towards one that is more neutral," analysts at Nomura told Reuters

Feb 8, 2024 9:21 AM IST

RBI MPC Meet 2024 LIVE: Stock market opens in green ahead of RBI announcement

RBI MPC Meet 2024 LIVE: Stock market opened in green ahead of the RBI monetary policy committee announcement. Sensex rose by over 200 points to open at 72,404. Nifty opened at 21,988. Deep dive

Feb 8, 2024 9:10 AM IST

RBI MPC Meet 2024 LIVE: Economists believe RBI will keep repo rate unchanged

RBI MPC Meet 2024 LIVE A Reuters poll of 60 economists in early February indicated that the RBI would keep its key repo rate unchanged at 6.50% on Thursday and maintain status quo until at least July. Investors are also waiting to see if the moderation in core inflation and focus on fiscal prudence in the interim budget would enable policymakers to signal a turn in the rate cycle.

Feb 8, 2024 9:01 AM IST

RBI MPC Meet 2024 LIVE: SBI predicted central bank expected to continue its pause stance

RBI MPC Meet 2024 LIVE: State Bank of India (SBI) in a report said the RBI is expected to continue its pause stance in upcoming policy.

"Strong US non-farm payroll data and wages seem to have pushed back on market expectations for a quick pivot to rate cuts," it said, and added the first rate cut on the table could be from June to August period "looks the best bet now".

Feb 8, 2024 8:50 AM IST

RBI MPC Meet 2024 LIVE: ‘RBI anticipated to sustain emphasis on liquidity management’, says expert

"In its upcoming meeting, the RBI is anticipated to sustain its emphasis on liquidity management, given the persistently tight money market conditions where call money rates continue to hover above the repo rate. Despite some moderation observed in the past week, liquidity in the banking system has remained in deficit since the last policy meeting, reaching a peak of over 3.5 trillion in the last week of January. The deficit in systemic liquidity has consequently tightened overall money market conditions, leading to an inversion in a segment of the yield curve," CareEdge tells Mint in a note

Feb 8, 2024 8:39 AM IST

RBI MPC Meet 2024 LIVE: ‘Risk to efforts for aligning inflation with 4$ target from volatility in food prices', says expert

“The primary risk to the RBI’s efforts to align headline inflation with the 4% target is likely to stem from potential volatility in food prices,” Rajani Sinha, an economist at Care Ratings Ltd., wrote in a note. Nevertheless, the benign nature of core inflation will provide some reassurance to the rate setters, she said.

Feb 8, 2024 8:22 AM IST

RBI MPC Meet 2024 LIVE: Who are members of Monetary Police Committee

The Monetary Police Committee consists of three external members and three officials of the RBI. The external members of the panel are Shashanka Bhide, Ashima Goyal, and Jayanth R Varma. Besides Governor Das, the other RBI officials in MPC are Rajiv Ranjan (Executive Director) and Michael Debabrata Patra (Deputy Governor)

Feb 8, 2024 8:08 AM IST

RBI MPC Meet 2024 LIVE: Indian economy likely to grow 7% in 2024-25, says governor

Indian economy should record a growth rate of 7 per cent in the next fiscal and inflation is likely to ease further, RBI Governor Shaktikanta Das said last month. Deep dive

Feb 8, 2024 7:59 AM IST

RBI MPC Meet 2024 Live: ‘Policy rate will remain unchanged’, predicts expert

“The RBI MPC will keep the policy rate unchanged at the February 8 policy meeting at 6.5%, sound optimistic on growth, recognize the sharp fiscal consolidation in the interim budget, and reiterate the commitment to the 4% headline inflation target,” Santanu Sengupta, a senior economist at Goldman Sachs Group Inc., wrote in a note.

Feb 8, 2024 7:46 AM IST

RBI MPC Meet 2024 Live: When, where to watch Shaktikanta Das's briefing

RBI Governor Shaktikanta Das will reveal the MPC decision at around 10 am on Thursday. The central bank will broadcast the RBI governor's policy statement on the RBI's YouTube channel or RBI's official X handle.

Feb 8, 2024 7:22 AM IST

RBI MPC Meet 2024 Live: What happened in the 2023 meet?

For the past year, the Reserve Bank has maintained the repo rate at 6.5 per cent, having last increased it in February 2023 from 6.25 per cent to 6.5 per cent to curb inflation primarily driven by global factors. Deep Dive

Feb 8, 2024 7:14 AM IST

RBI MPC Meet 2024 Live: Experts believe central bank to keep repo rate unchanged

The Reserve Bank of India’s six-member monetary policy committee is expected to keep the repurchase rate unchanged at 6.5%, according to all 42 economists surveyed by Bloomberg. Many experts expect the central bank to stick to its stance of “withdrawal of accommodation” as well, although they expect the tone of the statement to be less hawkish

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