RBI to announce its bi-monthly monetary policy today
The fifth bi-monthly monetary policy statement of the financial year 2023-24 will be announced today by RBI Governor Shaktikanta Das. The meeting of the Monetary Policy Committee began on Wednesday in Mumbai amid expectations that the panel will maintain status quo on key interest rates.
According to experts, RBI is likely to keep the key repo rate unchanged at 6.50 percent. It is also believed that the central bank will continue to hold its ‘withdrawal of accommodation’ stance.
An SBI report released earlier this week had said that the rates are expected to remain constant till the second quarter of Financial Year 2025. The report further said that the growth is expected to remain resilient with risks mostly stemming from sources outside of India. It added that higher oil prices pushing up inflation, and tighter global financial conditions are key risks weighing on currency inflation and growth dynamics.