RBI’S Monetary Policy Committee starts deliberation on policy rate
The RBI will announce its monetary policy review on December 4
Mumbai: The Monetary Policy Committee (MPC) of RBI began its three-day deliberation on Wednesday here amid expectations that the central bank will maintain status quo on the benchmark lending rates in view of high retail inflation. The RBI will announce its monetary policy review on December 4.
After its last MPC meeting in October, RBI kept policy rates unchanged to help tame inflation that in the recent times has surged past 6 per cent mark. RBI projected the country’s GDP to contract 9.5 per cent in the current financial year due to the pandemic.
It has cut policy rates by 115 basis points since February. Experts opined that RBI may not slash policy rate in the wake of rising Consume Price Index (CPI)-based inflation driven mainly by supply side issues.
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