RBI MPC Meeting Today the decisions taken in the three-day meeting of the Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI) have been announced. A decision has been taken regarding the repo rate in the meeting chaired by the RBI Governor. This time too the meeting has decided to keep the repo rate stable. Read the full news..
The meeting of the Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI) started from June 5, 2024. Today RBI Governor Shaktikanta Das has announced the decisions taken in the meeting.
The meeting of the Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI) started from June 5, 2024. Today RBI Governor Shaktikanta Das has announced the decisions taken in the meeting.
what are the new rates
With no change in the repo rate, other rates will also remain stable. RBI has kept the reverse repo rate at 3.35 percent, standing deposit facility rate at 6.25 percent, marginal standing facility rate at 6.75 percent and bank rate at 6.75 percent.
inflation rate
Governor Das said that RBI is committed to bringing inflation to 4 percent on a sustainable basis. RBI expressed concern over high food inflation. After the monetary policy committee meeting, RBI Governor Das said that the inflation growth balance is moving favorably.
Normal southwest monsoon is expected to increase kharif production and increase water storage in reservoirs. In such a situation, inflation may moderate.
The RBI estimates retail inflation to be 4.9 per cent in the first quarter of FY25, 3.8 per cent in the second quarter, 4.6 per cent in the third quarter, and 4.5 per cent in the fourth quarter.
Also Read: RBI Monetary Policy LIVE: RBI’s monetary policy will be announced today, know who all are included in MPC
If there is a normal monsoon this time, then inflation is expected to be 4.5 percent in the current financial year. The RBI governor said that some improvement in retail inflation can be seen in the second quarter of the current financial year.
RBI Governor Das said that there is a need to keep a close watch on food price inflation.
GDP growth
In the last meeting of the RBI MPC, the GDP growth forecast for FY 2025 was 7 percent. This time the meeting raised the GDP growth forecast from 7 percent to 7.2 percent.
RBI Governor says that if the GDP growth remains at 7.2 percent in the current financial year, then this will be the fourth consecutive year when the growth rate will be more than 7 percent.
