The RBI MPC meeting is starting from today in May 2020. RBI will reduce the rate of the latest policy. No changes have been made since then. At present the repo rate is four percent and the reverse repo rate is 3.35 percent.
New Delhi The meeting of the Monetary Policy Committee (MPC) of the Reserve Bank will begin from today. The central bank will issue a monetary policy review in April after a three-day meeting of a six-member committee headed by Governor Shaktittanta Das. This will be the first monetary policy review of the current financial year.
Experts say the central bank may avoid policy rate changes this time around due to higher retail inflation. The MPC is a central bank committee that decides on policy rates. In May 2020, the RBI last cut the policy rate. No changes have been made since then. At present the repo rate is four percent and the reverse repo rate is 3.35 percent.
Experts say the central bank’s main goal is to keep inflation under control. The Reserve Bank will wait for the right time for the possibility of action without any effect.
After the last meeting, Das said that the GDP growth rate in the fiscal year 2021-22 is ten decimals. Percent. It further said that the retail inflation estimate for the fourth quarter of FY 2020-21 has been revised to 5.2 per cent.
At a meeting in February, Governor Das said that the previous estimate of the retail inflation rate for FY 2021-22 had been revised to 5.2-5 per cent. The RBI governor said the central bank had projected GDP growth to be between 8.3-26.2 in the first half of FY2021-22. RBI forecasts 6% GDP growth in FY 2021-22