Reserve Bank's MPC starts deliberations on bi-monthly monetary policy
The Hindu
RBI Governor Shaktikanta Das to announce MPC decision on Friday, experts predict no rate cut until 2025.
Reserve Bank's high level panel on Wednesday (December 4, 2024) started deliberations on the bi-monthly monetary policy amid expectations of status quo on interest rate as the retail inflation is above the upper tolerance level of the central bank.
The decision taken at the RBI Governor Shaktikanta Das headed six-member Monetary Policy Committee (MPC) will be announced on Friday (December 6).
Mr. Das is chairing the last MPC meeting of his current term which ends on December 10.
The government has tasked the RBI to ensure consumer price index (CPI) based inflation remains at 4% with a margin of 2% on the either side.
The Reserve Bank has kept the repo or short-term lending rate unchanged at 6.5% since February 2023 and experts think some easing could only be possible in 2025.
"We do not foresee rate cut during the current FY... First rate cut and further change in stance likely in April 2025," said a SBI research report.
The report further said it is better that the second quarter growth numbers "do not prompt a knee jerk reaction" in terms of monetary impulse like rate cut as headline inflation continues to trade at uncomfortable levels.
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