RBI MPC: When and where to watch policy announcement by Shaktikanta Das

The Reserve Bank of India (RBI) Governor Shaktikanta Das will announce the decision of the Monetary Policy Committee (MPC) about the repo rate today, October 6. The six-member MPC started its bi-monthly meeting to decide on the benchmark interest rate on October 4. Experts have said that RBI is likely to keep the repo rate unchanged at 6.5 per cent in view of elevated inflation and other global factors.

Today's MPC announcement will indicate the course RBI will take for the rest of the financial year as the central bank tries to strike a fine balance between maintaining high growth, while also keeping inflation under control. The RBI will have to consider factors like high crude oil prices and the rise in US bond yields.

The RBI has raised the repo rate by 250 basis points (bps) (100 bps = 1 percentage point) since May 2022. The MPC had hit the pause button on rate hikes in April. Earlier, Das had said that it was a pause and not a pivot.

Also Read: RBI expected to retain 6.5% benchmark rate in monetary policy, say experts

Speaking about the RBI MPC, the Senior Vice President of financial sector ratings at Icra said, "The significant tightening in liquidity that was seen in the second half of September is unlikely to sustain, particularly with the release of liquidity from incremental CRR imposed in the previous policy."

RBI monetary policy: When and Where to watch Shaktikanta Das's address

RBI governor's MPC decision announcement is also streamed live on RBI's official YouTube channel.

https://www.youtube.com/watch?v=wi6m7F6boWo

RBI Governor Shaktikanta Das will announce the MPC's stance on inflation and repo rate at 10 AM on Friday, October 6. The governor's statement will later be available on the official website of RBI: https://www.rbi.org.in/home.aspx

You can catch the extensive coverage of RBI monetary policy on https://www.business-standard.com/