RBI MPC April 2023 Meeting: The meeting of the RBI’s Monetary Policy Committee will conclude on Thursday morning and the decision will be announced by RBI Governor Shaktikanta Das. The RBI governor will present the latest monetary policy statement at 10 am on April 6, Thursday, including the decision on the repo rate hike, reverser repo rate, etc. He will also talk about the current domestic as well as global economic situation.
RBI MPC Meet LIVE Updates: Will RBI Guv Shaktikanta Das Increase Interest Rate By Another 25 bps? Read More
After the policy announcement, he will also address a press conference which will be telecast at 12:00 pm on Thursday.
The RBI is responsible for ensuring that the retail inflation rate remains within the range of four per cent, with a margin of +/- two per cent. However, the inflation rate has exceeded six per cent for three consecutive quarters starting from January 2022. To address this issue, the Monetary Policy Committee (MPC) has been convened. This committee consists of three RBI officials and three external members who have been appointed by the central government.
Here is How to Watch RBI Monetary Policy Decisions LIVE Today
YouTube: You can watch the LIVE address of RBI governor Shaktikanta Das on YouTube in the given link.
Watch Here:
Facebook: The address will be simultaneously streamed on the Reserve Bank of India’s Facebook page.
Twitter: RBI Governor Shaktikanta Das’ address to the country will also be streamed on the Central Bank’s official Twitter handle @RBI.
What to Expect?
Experts are of the view that the central bank will raise the key policy rate (repo) by 25 basis points. The RBI has so far raised repo rate six times including the off-cycle surprise increase of 40 basis points in May last year.
The two key factors which the committee is expected to deliberate while firming up the next monetary policy are elevated retail inflation and the recent action taken by central banks of developed nations especially the US Federal Reserve, the European Central Bank and Bank of England.
“Given that CPI inflation has been 6.5 % and 6.4 % in the last two months and that liquidity is now near neutral, we may expect the RBI to raise rates once again by 25 bps and probably change stance to neutral to signal that this cycle is over," Madan Sabnavis, chief economist, Bank of Baroda had said recently.
The MPC consists of three RBI officials and three external members appointed by the central government.
The external members are Shashanka Bhide (Honorary Senior Advisor, National Council of Applied Economic Research, Delhi); Ashima Goyal (Emeritus Professor, Indira Gandhi Institute of Development Research, Mumbai); and Jayanth R Varma (Professor, Indian Institute of Management, Ahmedabad).
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