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HomeNewsRBI Policy Live Updates: Governor Das to announce MPC decision soon

RBI Policy Live Updates: Governor Das to announce MPC decision soon


RBI Monetary Policy Live Updates: The Reserve Bank of India (RBI) Governor Shaktikanta Das-led Monetary Policy Committee (MPC) is likely to hike the policy repo rate for the third time this year on Friday in order to tame the inflationary pressure. RBI had slashed the repo rate in March, 2020 with an aim to cushion the impact of covid-induced lockdown, and maintained status-quo in the benchmark interest rate for almost two years before increasing it on May 4, 2022.

05 Aug 2022, 09:53:22 AM IST

Third possible hike this year

If the RBI chooses to hike the policy repo rate on Friday, it will be the third hike in a row. The repo rate is the rate at which the central bank of a country lends money to commercial banks.

05 Aug 2022, 09:46:40 AM IST

Rate hike to return to pre-covid level?

Even after the two consecutive hikes, the repo rate remains at below pre-pandemic level. With today’s expected hike, the market is expecting the RBI to take policy rates to at least pre-pandemic levels.

05 Aug 2022, 09:42:49 AM IST

Change in forecasts?

Experts believe that RBI is also likely to revise its inflation forecast upwards and growth forecast downwards alongside rate hike. In June policy, RBI decided to remain focused on the withdrawal of accommodation to ensure that inflation remains within the target going forward while supporting growth.

05 Aug 2022, 09:39:15 AM IST

Rates expected to be above level deemed ‘neutral’: Abheek Barua

According to HDFC Bank’s Chief Economist Abheek Barua, the RBI is “likely to take rates above a level deemed ‘neutral’ (which we think is closer to 5.25 per cent) before slowing down or looking at becoming more data dependent in this rate hike cycle.”

05 Aug 2022, 09:33:42 AM IST

Stock market opens higher

Sensex, Nifty edged higher ahead of an expected rate hike, led by financials. Sensex was up over 200 points in opening deals

05 Aug 2022, 09:24:03 AM IST

Bond yields fall

Indian government bond yields dropped on Friday, with the 10-year yield trading at a three-month low, after global oil prices fell overnight, while market participants await RBI’s policy decision for further cues.

05 Aug 2022, 09:22:21 AM IST

Inflation worries

India’s consumer price index (CPI) inflation currently is at 7.01% in June 2022 after peaking at 7.79% in April. The inflation has stayed above RBI’s upper limit of 6% for the sixth consecutive month.

05 Aug 2022, 09:14:49 AM IST

Rupee opens higher

The rupee rose ahead of monetary policy decision on Friday as the currency opened at 79.15 against the US dollar, supported by overnight weakness in oil prices and the dollar.

05 Aug 2022, 09:05:49 AM IST

Rate hike expected, but by how much?

The RBI is widely expected to increase the key interest rate, though, experts remain divided over the quantum of the hike, with views widely split between 25 basis points (bps) and 50 basis points.

05 Aug 2022, 09:05:49 AM IST

RBI MPC Meet

The six-member Monetary Policy Committee headed by the RBI Governor Shaktikanta Das started deliberations on the bi-monthly policy review on Wednesday.

05 Aug 2022, 09:02:30 AM IST

RBI rate hikes

The RBI has raised the repo rate by 90 basis points to 4.90% since embarking on a tightening cycle at an unscheduled policy meeting in May, to curb inflationary pressures.



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