RBI monetary policy: When and where to watch the governor's announcement?

RBI Monetary Policy Committee meeting LIVE updates: Economists expect the central bank to maintain the repo rate at 6.5 per cent for the eighth consecutive time

RBI Monetary Policy Committee meeting LIVE updates: The Reserve Bank of India's (RBI) Monetary Policy Committee (MPC) is set to announce its decision on whether to keep the repo rate or lending rate for commercial banks unchanged on Friday. The committee's decision is expected to be announced by RBI governor Shaktikanta Das at 10 am.

The latest monetary policy statement will be aired LIVE on June 7. The RBI governor will also address a press conference at 12 pm.

The RBI's announcement on the monetary policy can be watched LIVE on all social media handles of the central bank. It will also be streamed live on the central bank's YouTube channel.

Economists expect the central bank to maintain the repo rate at 6.5 per cent for the eighth consecutive time.

When did RBI MPC June meeting begin

The three-day RBI MPC meeting convened on Wednesday. The committee meets at least four times a year to deliberate on price stability while considering economic growth. The committee is expected to implement a monetary policy that helps keep the inflation target at 4 per cent  (with an upper tolerance limit of 6 per cent and a lower tolerance limit of 2 per cent). Besides the repo rate, several other instruments, such as reverse repo rate, cash reserve ratio checks, etc, are also used to execute the policy.

The failure to maintain the inflation target is understood when the average inflation is beyond the tolerance band for any three consecutive quarters.

Who are the members of RBI MPC

Besides the central bank's governor, the committee members include a deputy governor of the RBI, one officer of the RBI to be nominated by the Central Board, and three other economists appointed by the Centre.

Michael Debabrata Patra, the deputy governor of the RBI, and Rajiv Ranjan, the bank's executive director, are on the committee. Shashanka Bhide, Ashima Goyal, and Jayanth R Varma are three notable economists in the body.