RBI MPC Meet 2024 Highlights: Repo rate unchanged at 6.5% for 9th time in a row

RBI MPC Meet 2024 Live: Shaktikanta Das said, “While fuel group remains in disinflation, expected moderation in headline inflation in 2Q of this FY on account of favourable base may reverse in the coming quarters. In the third quarter, India has a substantial advantage that may pull down the inflation but the base effect will wear out.”

RBI MPC Meet 2024 Live: RBI keeps rates unchanged at 6.5%, to remain focussed on withdrawal of accommodation, Shaktikanta Das announced.

RBI MPC Meet 2024 Live: Repo rate unchanged at 6.5% for ninth time in a row

RBI MPC Meet 2024 Live: RBI MPC Meet 2024 Live: Bank Nifty falls 100 points, market in red ahead of policy announcement

RBI MPC Meet 2024 Live: It remains to be seen how stock market will react to the RBI MPC announcement which comes at a time when US recession fears have impacted Indian benchmark indices leading to volatility.

RBI MPC Meet 2024 Live: The MPC is headed by RBI governor Shaktikanta Das and has three external members. Members of MPC are Shashanka Bhide, Ashima Goyal, Jayanth R Varma, Rajiv Ranjan, and Michael Debabrata Patra. Every member of the MPC has one vote. In case of a tie, the RBI governor has a second or casting vote.

RBI MPC Meet 2024 Live: Shaktikanta Das to announce repo rate decision today at 10am.

RBI MPC Meet 2024 Live: If RBI maintains status quo on policy rates, it will be in the second-longest pause in the last 25 years.

RBI MPC Meet 2024 Live: RBI governor Shaktikanta Das cautioned against any premature rate cuts as inflation in June jumped to 5.08%, more than 1 percentage point above the RBI’s target, owing to high food prices.

RBI MPC Meet 2024 Live: The Reserve Bank of India (RBI) is anticipated to keep interest rates steady this week. This is expected as rising food prices limit the potential for a softer policy approach. Although lobal trends towards lower borrowing costs may prompt the central bank to adopt a neutral stance in the next quarter.

RBI MPC Meet 2024 Live: 42 of the 43 economists surveyed by Bloomberg News predicted that the repo rate may stay unchanged at 6.5%.

RBI MPC Meet 2024 Live: Radhika Rao, senior economist, DBS Bank, said, "The June-July inflation undercurrents validate the MPC’s concerns over the near-term price outlook. To recall, June CPI inflation rose 5.1% yoy ...food and beverages added most to the headline, rising 8.4% from 7.9% before on higher vegetables, pulses and certain protein categories."

RBI MPC Meet 2024 Live: RBI is unlikely to change inflation projection in the policy announcement today. Although, experts remain cautious on the upside risk due to food inflation.

RBI MPC Meet 2024 Live: Nifty below 24,250, Sensex falls 200 points

RBI MPC Meet 2024 Live: In June monetary policy, RBI projected real gross domestic product for the financial year 2024-25 at 7.2 per cent, from 7 percent estimated previously.

RBI MPC Meet 2024 Live: RBI has kept the repo rate unchanged since April 2023. It is expected that the central bank may leave key rates unchanged. If this happens, it will then be the ninth consecutive time of no rate action by the RBI.

RBI MPC Meet 2024 Live: Central banks around the world have shifted their stance or are looking to change their stance. The Bank of Japan increased interest rates for a second time this year. The Bank of England cut their key interest rates and the US Federal Reserve may also initiate rate cut later this year.

RBI MPC Meet 2024 Live: India's inflation remains above target levels of 4 per cent. The inflation may have eased off in July and August but may rise in September, Bloomberg reported.

RBI MPC Meet 2024 Live: Market experts are expecting a hawkish and neutral stance policy by RBI governor Shaktikanta Das. Kaushik Das, Chief Economist for India at Deutsche Bank AG, told Bloomberg, “We expect both the policy repo rate and monetary stance to remain unchanged in the August policy, though we are of the opinion that the stance should change to neutral."

RBI MPC Meet 2024 Live: Global markets witnessed a mass sell-ff which started as the yen rose after the Bank of Japan hiked its interest rates twice after 17 years, to 0.25 per cent.

RBI MPC Meet 2024 Live: The repo rate is the rate at which the central bank lends short-term funds to banks. Currently, the repo rate stands at 6.5 per cent. RBI has kept it unchanged since April 2023.

RBI MPC Meet 2024 Live: RBI MPC comes at at time when global markets have experienced volatility due to fears of a potential recession in the United States soon. This week, global markets witnessed significant dips after the US released job data at the end of last week.

RBI MPC Meet 2024 Live: RBI governor Shaktikanta Das will present the latest monetary policy statement today at 10am. Additionally, the RBI governor will hold a press conference at 12 pm.

You can catch all updates on RBI MPC at Hindustan Times.

RBI MPC Meet 2024 Live: RBI MPC chaired by central bank governor Shaktikanta Das has kept the repo rate unchanged in the previous eight policy reviews. At present, repo rate is at 6.5 per cent. It has been the same since February 2023.

RBI MPC Meet 2024 Live: The announcement by RBI governor Shaktikanta Das today marks the central bank's third monetary policy decision for the financial year 2024-25 (FY25).