MPC in no rush to change benchmark rate, stance: Business Standard poll

Some expect upward revision in FY24 inflation forecast

The six-member Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI) is expected to maintain a status quo in the fourth consecutive policy review, all 10 respondents said in a Business Standard poll. The central bank will announce the review of the policy on October 6.

After increasing the repo rate by 250 basis points (bps) to 6.5 per cent between May 2022 and February 2023, the MPC hit a pause in the April review of the monetary policy.

“They should maintain a status quo because food inflation, which was posing an issue for the RBI in terms