New Delhi: The Reserve Bank of India will announce the outcomes of the RBI MPC Meeting August 2024 on Thursday. Governor Shaktikanta Das will announce the important decisions and deliberations held on various aspects like interest rates, inflation, economy, etc today.
The RBI Governor will make the Monetary Policy statement at 10 am today. Watch live at: https://youtube.com/live/WHj7vDlyr6c?feature=share
Meanwhile, HSBC, a foreign brokerage, said that the Reserve Bank is expected to hold its key rates at policy review. On the inflation front, it stated that the central bank may sound more confident about reaching its 4 per cent inflation objective
“While it’s a close call, we also think the policy stance will remain unchanged, even as the RBI sounds more confident than before about getting to its 4 per cent inflation target,” HSBC said in the report on the eve of the RBI MPC’s decision.
The Union Ministry of Commerce & Industry mentioned that the annual rate of inflation based on all India Wholesale Price Index (WPI) number was 3.36 per cent (Provisional) for the month of June, 2024 (over June, 2023).
It stated that the positive rate of inflation in June 2024 was a result of increase in prices of food articles, manufacture of food products, crude petroleum & natural gas, mineral oils, other manufacturing etc.
What happened in RBI MPC June 2024 meeting
RBI Governor Das had announced to keep the policy repo rate under the liquidity adjustment facility (LAF) unchanged at 6.50 per cent. He also announced that the standing deposit facility (SDF) rate will remain unchanged at 6.25 per cent and the marginal standing facility (MSF) rate and the Bank Rate at 6.75 per cent.
In an attempt to keep prices in check, the RBI MPC had decided to remain focused on withdrawal of accommodation to ensure that inflation progressively aligns to the target, while supporting growth.
RBI MPC Meeting August 2024 Live: The Reserve Bank of India is expected to hold the interest rates. Economy Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
