Today is the last day of the MPC meeting chaired by Reserve Bank of India Governor Shaktikanta Das, which began on August 6. After the meeting is over, the RBI Governor will announce the committee’s decisions today i.e. on August 8. There are strong possibilities that RBI will once again not make any change in the repo rate and will keep it at 6.5 percent. If experts are to be believed, RBI may wait for more macroeconomic data before making any reduction in interest rates.
First meeting after budget presentation on 23rd July
Let us tell you that this is the first meeting of the RBI monetary policy after the full budget presented for the financial year 2024-25 on July 23, in which the decisions taken will be announced after a few hours. This is the last meeting of the current MPC, because after this new members will be appointed for the committee.
Decisions can be announced around 10 am
RBI Governor Shaktikanta Das can announce the decisions of the committee around 10 am on Thursday. Like many times in the past, this time too there is no possibility of any change in the repo rate and the repo rate may remain at its current rate. The biggest reason behind this is the current inflation rate prevailing in the country.
Retail inflation rate at high level in India
Inflation in India is still high. In June, the retail inflation rate was at a four-month high of 5.08 percent. There is no possibility of a repo rate cut until the retail inflation rate comes down. The Reserve Bank of India last changed the repo rate in February 2023, raising it to 6.5 percent. Since then, the RBI has not made any change in it for 7 consecutive times.
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