RBI to announce bi-monthly monetary policy

RBI Governor Shaktikanta Das will announce the third bi-monthly monetary policy statement today. The meeting of the six member Monetary Policy Committee began in Mumbai on Tuesday amid expectations that the panel will maintain status quo on key interest rates.

In view of rising inflation, especially food inflation and in order to keep the growth momentum going, experts believe that the panel will continue to persist with the status quo. RBI has kept the repo rate unchanged at 6.5 percent in its last two policy announcements. 

India’s retail inflation based on Consumer Price Index rose to a three-month high of 4.81 percent in June, mainly on account of hardening prices of food. The inflation, however, remains within the RBI’s comfort level of below 6 percent.