RBI MPC meet: Watch policy announcement by Governor Shaktikanta Das
1 min read . Updated: 08 Feb 2023, 10:07 AM IST
Premium- The six-member rate-setting committee started its bi-monthly meeting to decide on the benchmark interest rate on 6 February
RBI Governor Shaktikanta Das will announce the decision of the Monetary Policy Committee (MPC) on the repo rate today. The six-member rate-setting committee started its bi-monthly meeting to decide on the benchmark interest rate on February 6.
The Reserve Bank of India's key repo rate was raised by 25 basis points (bps) on Wednesday as widely expected, the sixth straight increase, as core inflation remained high despite signs retail inflation has peaked.
The central bank said that its policy stance remains focused on thewithdrawal of accommodation.
Most analysts expect this hike to be the final increase in the RBI's current tightening cycle, which has seen it raise rates by 250 bps since May last year.
The monetary policy committee (MPC), comprising three members from the central bank and three external members, raised the key lending rate or the repo rate to 6.50% in a split decision.
Four of the six members voted in favour of the decision.
Post-policy press conference telecast at 12:00 pm
Live Updates: RBI Monetary Policy
The annual retail inflation rate eased to 5.72% in December from 5.88% in the previous month, falling below the RBI's upper tolerance band of 2%-6% for a second straight month.
