RBI MPC meet: Rate setting panel to announce decision on key lending rates on Thursday
Mumbai: The Reserve Bank of India is expected to declare another increase in interest rates on Thursday, as part of its bi-monthly review of monetary policy, said reports.
Governor Shaktikanta Das will speak to the media at noon on Thursday, following a series of meetings by the Monetary Policy Committee on April 3, 5, and one more day of discussions on April 6.
These meetings are held six times a year to assess the central bank's monetary policy.
The announcement on Thursday may be the first increase of the new fiscal year and the second increase of the calendar year, with the RBI having already raised the rate by 25 basis points in February according to media reports.
In order to curb demand in the economy, the committee is expected to raise the rate, keeping an eye on inflation, reports added.
Stakeholders are closely monitoring these meetings, as nearly every central bank is grappling with rising inflation and the possibility of a mild recession.
However, according to SBI Research's latest Ecowrap report, the RBI is expected to pause its interest rate hike and the current 6.5 percent repo rate could be the terminal rate for now. The report asserted that the RBI has enough reasons to pause the repo rate hike in the April meeting.
IBNS
Senior Staff Reporter at Northeast Herald, covering news from Tripura and Northeast India.
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