Policy repo rate cut not likely before Q1FY25: Business Standard poll

Despite inflation worries, MPC to maintain status quo on rates in its meet this week

The six-member Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI) is expected to start cutting the policy repo rate only from the first quarter of the next financial year (Q1FY25), seven of 10 participants said in a Business Standard poll. The RBI will announce the review of the policy on August 10.

The respondents to this poll expect the committee members to maintain the status quo for the third consecutive policy review even if inflationary pressures resurface on rising vegetable prices.

After increasing the repo rate by 250 basis points (bps) to 6.5 per cent between May 2022 and