RBI Monetary Policy meeting April 2024 starts today; know date, time and all other key details of MPC meet | India Business News

Apr3,2024



reserve Bank of India MPC meeting schedule April 2024: The reserve Bank of IndiaThe Monetary Policy Committee (MPC) of India exclusively decides the monetary policy of India. repo rate, which affects borrowing and loan rates. The upcoming MPC meeting is scheduled from April 3 to 5, 2024, the results of which will be announced by RBI Governor Shaktikanta Das on April 5 at around 10 am.
This meeting marks the beginning of the first bi-monthly review of the financial year, in which important decisions will be taken Rate of interest The committee is expected to keep the repo rate at 6.5% given concerns about inflation. However, the final decision will be revealed on April 5.
MPC meetings take place regularly throughout the year, with five more scheduled in June, August, October, December and February. These meetings are important where the committee evaluates various economic indicators to determine the monetary policy of the country.
At its February meeting, the MPC decided to keep the repo rate unchanged at 6.5%, maintaining stability for the sixth consecutive time. Repo rate is the rate that determines the interest rate at which RBI lends to other banks.
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Experts suggest that the current economic scenario may not favor a rate cut. Despite recent positive economic indicators, concerns remain about inflation, which could impact future rate adjustments.
The RBI's goal of keeping inflation within a comfortable range of two-six per cent remains a key priority. In February, inflation stood at 5.09%, above the ideal 4% scenario but within the RBI's comfort zone.
Analysts estimate that the RBI may begin the rate cut cycle in the third quarter of fiscal year 2024-25, in line with the central bank's focus on achieving sustainable levels of inflation. S&P Global Ratings has forecast potential rate cuts of up to 75 basis points in the fiscal year, while Morgan Stanley expects rate cuts to begin from June 2024.



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