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Business News/ News / India/  RBI monetary policy announcement today; Here's when and where to watch

RBI monetary policy announcement today; Here's when and where to watch

RBI Monetary Policy: RBI expected to keep repo rate on hold at 6.50% in second meeting of the MPC; decision likely to be unanimous but future interest rates and liquidity to be monitored closely.

RBI June 2023 MPC meeting today (Bloomberg)Premium
RBI June 2023 MPC meeting today (Bloomberg)

The Reserve Bank of India (RBI) is likely to keep the repo rate on hold in its Thursday meeting. The RBI's monetary policy committee (MPC), which has three members from the central bank and three external, is expected to keep the repo rate unchanged at 6.50% in today's second meeting which happened on 6 April 2023. The RBI also kept the reverse repo rate unchanged at 3.50%. The RBI has raised the repo rate by 250 basis points since May 2022 to quell high inflation which has started showing signs of easing.

However, during the RBI's MPC meeting commentary around the future of interest rates and banking system liquidy will be closely monitored.

The commentary around domestic liquidity and the central bank's liquidity management operations in recent weeks will also be a focus for bond market participants with inter-bank rates having shot up intermittently despite overall surplus cash in the banking system, according to Radhika Rao, senior economist at DBS in Singapore.

Rao added that the decision on holding rates is likely to be unanimous, but the question of whether to maintain the current policy stance, which the RBI terms "withdrawal of accommodation", could be more contentious.

RBI Monetary Policy: When to watch

RBI Governor Shaktikanta Das will announce the MPC's decision on Thursday (8 June) at 10 AM while the policy press conference will be aired at 12 noon--2 hours after the decision.

RBI MPC June 2023: Where to watch

One can watch the live streaming of the RBI's MPC meeting on the official YouTube channel of the central bank. Besides, you can tune in to our Liveblog for regular updates.

The next RBI meeting is scheduled to take place on August 8-10, 2023.

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Updated: 08 Jun 2023, 06:55 AM IST
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