Mumbai / New Delhi, 06 June (Hindustan Times). The bi-monthly three-day review meeting of the Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI) began here on Tuesday. The second bi-monthly MPC meeting of the financial year 2023-24 will run from June 6 to 8. The decisions of this meeting will be announced on June 8.
This meeting of the Monetary Policy Committee of RBI takes place at an interval of every two months. Changes in policy interest rates will be discussed in this meeting chaired by RBI Governor Shaktikanta Das. The Reserve Bank did not change the repo rate in the last meeting held in April. The RBI governor had said at that time that this decision has been taken for this meeting but it can be extended again if needed.
However, experts say that the effect of the increase in the policy interest rate repo rate in the past of RBI has started showing. Retail inflation has come down to the Reserve Bank’s satisfactory range of 4.7 per cent in April. In such a situation, there is less scope for change in the policy rate in the review meeting of the MPC. The Reserve Bank can keep the repo rate unchanged at 6.5 percent.
It is noteworthy that the RBI had stopped the increase in the policy interest rate in the last MPC meeting in April, which is at 6.5 per cent. Earlier, to curb inflation, the repo rate was increased by 2.5 percent continuously from May 2022 onwards by the Reserve Bank.
