Mumbai: The Reserve Bank of India’s monetary policy committee will conclude its meeting on Friday, December 6, 2024. RBI governor Shaktikanta Das will announce the MPC’s decision on Friday morning. All eyes will be on the MPC and the governor for a potential rate cut. The RBI has maintained the repo rate, the rate at which the central bank lends to commercial banks for a short term, at 6.5 per cent since last year. The RBI will conduct 2 events on Friday.
The RBI governor will announce the MPC decision on Friday at 9 am. This will be followed by a post-announcement press conference at 12 pm on Friday. The 2 events can be watched on RBI’s official YouTube channel or the central bank’s official social media pages on X and Facebook.
Coming up:
Monetary Policy Statement by #RBI Governor @DasShaktikanta
on December 06, 2024, at 10:00 am Watch live at: https://t.co/IlVH3hYA5d
Live telecast of the Post-policy press conference at 12:00… pic.twitter.com/7cAan1v3TB
— ReserveBankOfIndia (@RBI) December 5, 2024
What is the MPC meeting all about?
RBI’s monetary policy committee (MPC) meets every 2 months to decide on the repo rate. This is dictated by the RBI’s primary target of keeping inflation under 4 per cent with a =/-2 per cent wingspan. The October inflation print came in at 6.21 per cent, according to official data. Rising crude oil prices and a stronger US dollar are expected to continue to keep prices higher. TO be sure, the headline inflation has been tied to food inflation in recent months.
RBI MPC members
RBI MOC comprises 6 members, namely 3 RBI deputy governors and 3 external members. The RBI governor has a casting vote.
The MPC members are as follows:
Nagesh Kumar, Director and Chief Executive, Institute for Studies in Industrial Development
Saugata Bhattacharya, Economist
Ram Singh, Director, Delhi School of Economics
Rajiv Ranjan, Executive Director, RBI
Michael Debabrata Patra, Deputy Governor, RBI
Shaktikanta Das, Governor, RBI
RBI MPC meeting: The central bank’s monetary policy committee will conclude on Friday, December 6, 2024. Know where to watch, time of speech and what to expect from RBI governor Shaktikanta Das’ speech. Biz News Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
