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Business News/ Economy / RBI Monetary Policy Committee (MPC) meeting: Check the date, time, and where to watch here
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RBI Monetary Policy Committee (MPC) meeting: Check the date, time, and where to watch here

The RBI Governor-headed Monetary Policy Committee will start its three-day deliberations on February 6 and announce the decision on February 8

The MPC's primary responsibility is to determine the policy repo rate, aiming to achieve the targeted inflation rate while considering growth objectives. (Bloomberg)Premium
The MPC's primary responsibility is to determine the policy repo rate, aiming to achieve the targeted inflation rate while considering growth objectives. (Bloomberg)

The Reserve Bank of India will hold its bi-monthly monetary policy meeting on February 8. Economists expect the central bank to keep rates unchanged until at least July, longer than some developed market central banks, according to a Reuters poll. Here's how you can watch it 

It is almost a year since the Reserve Bank has kept the short-term lending rate or repo rate stable at 6.5 per cent. The benchmark interest rate was last raised in February 2023 to 6.5 per cent from 6.25 per cent to contain inflation driven mainly by global developments.

The retail inflation in the current financial year has declined after touching a peak of 7.44 per cent in July, 2023, 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.

 

RBI MPC – Check date, time, schedule, where to watch:

RBI MPC Meeting Date: RBI Governor-headed Monetary Policy Committee (MPC) will start its three-day deliberations on February 6. Governor Shaktikanta Das will announce the decision of the six-member panel on February 8.

RBI MPC Meeting Timing: RBI Governor Shaktikanta Das will unveil the MPC decision around 10 am on February 8.

RBI MPC Meeting Schedule: After the MPC decision which starts around 10 am, RBI Governor Das will address a post-policy press conference at noon on February 8.

RBI MPC Meeting Live Streaming Link: The central bank will live stream the RBI Governor's policy statement on RBI's YouTube channel or RBI's official X (formerly Twitter) handle.

RBI MPC Members

The RBI MPC is comprised of six members, including both external members and RBI officials. The officials from the RBI are Rajiv Ranjan, who serves as Executive Director, and Michael Debabrata Patra, who is the Deputy Governor. The MPC consists of three external members and three officials of the RBI. The external members are Shashanka Bhide, Ashima Goyal, and Jayanth R Varma. Alongside these members, Governor Das is also a part of the MPC.

RBI MPC Expected Outcome

Madan Sabnavis, Chief Economist, Bank of Baroda, said the MPC is likely to maintain an unchanged approach in terms of both rate and stance.

"This is so as inflation, as per the December data, is still high and there are pressures on the food side. This is notwithstanding the fact that core inflation has come down," he said, as quoted by PTI.

Meanwhile, Finance Minister Nirmala Sitharaman is scheduled to address the central board of Reserve Bank of India on February 12 and highlight key points of the interim Union Budget presented by her in Parliament on February 1.

It is customary for the finance minister to address the Reserve Bank of India board after the Budget.

(With Inputs from PTI)

 

 

 

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Published: 05 Feb 2024, 09:35 AM IST
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