RBI MPC Live Updates: Shaktikanta Das likely to keep repo rate unchanged at 6.5%

RBI MPC LIVE Updates: Data showed that Consumer Price Index (CPI) inflation eased to 3.65 percent in August, falling within the RBI's target band of 2-6 per cent. Food inflation continues to be high at 5.65 per cent, exceeding the central bank's medium-term target of 4 per cent.

RBI MPC LIVE Updates: RBI may alter its stance, particularly in light of the external pressures and uncertainties affecting global markets, even if it does not change the repo rate. Therefore, what RBI keeps its stance will be something to look out for today.

RBI MPC LIVE Updates: The Indian rupee opened at 83.9238 against the US dollar ahead of the RBI's monetary policy announcement, compared to its previous close of 83.9637.

RBI MPC LIVE Updates: The fiscal deficit for the first five months of 2024-25 was recorded at 27% of the annual target, down from 36% during the same period last year, as per data.

RBI MPC LIVE Updates: HDFC Bank said that there could be a shift to a neutral monetary policy stance from the current withdrawal of accommodation stance. Sakshi Gupta, principal economist at HDFC Bank, said, “Core inflation has been under 4% for some time now. While there are concerns about the sequential momentum of headline CPI inflation, the year-on-year headline inflation numbers will be below 4% going ahead due to the base effect. Moreover, we don’t see much risk of spillover from food inflation into generalised inflation.”

RBI MPC LIVE Updates: RBI Governor Shaktikanta Das is set to announce the outcome of the three-day discussion by 10 am.

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RBI MPC LIVE Updates: India’s foreign exchange reserves rose to a record-breaking $704.89 billion as of September 27, marking an increase of $12.5 billion, as per RBI data.

RBI MPC LIVE Updates: India's services sector activity dropped to a 10-month low in September. The HSBC India Services Purchasing Managers' Index, compiled by S&P Global, declined to 57.7 in September, down from 60.9 in August, and well below the 61.8 level seen at the start of the year.

RBI MPC LIVE Updates: In May 2022, the Monetary Policy Committee (MPC) increased the policy rate by 40 basis points.

RBI MPC LIVE Updates: The US Federal Reserve recently cut its benchmark rates by 50 basis points. Although experts believe that RBI is unlikely to follow the US Federal Reserve.

RBI MPC LIVE Updates: Globally, many central banks have been reducing rates. The US Federal Reserve, BoE and the European Central Bank have already made cuts.

RBI MPC Live Updates: The central bank increased the repo rate to 6.5 percent in February 2023, and it has maintained that rate ever since.

RBI MPC LIVE Updates: The Reserve Bank is unlikely to cut the benchmark interest rate as retail inflation remains a cause of concern and there is a possibility of the Middle East crisis of deepening more, experts say.

RBI MPC LIVE Updates: Foreign Banks expect the Reserve Bank of India (RBI) to keep policy rate unchanged at 6.5 per cent. However, some see the central bank changing stance at the upcoming Monetary Policy Committee (MPC) meeting on October 7-9.

RBI MPC Live Updates: RBI has three new external members appointed by the government on the six-member panel. These include economist Saugata Bhattacharya, Dr Nagesh Kumar, Director, Chief Executive of the Institute for Studies in Industrial Development and professor Ram Singh, Director of the Delhi School of Economics, University of Delhi.

RBI MPC Live Updates: The three-day meeting of the six-member RBI Monetary Policy Committee (MPC) ends today. BI Governor Shaktikanta Das will announce the policy decision at 10:00am today.

RBI MPC Live Updates: The RBI’s rate-setting panel is expected to keep the benchmark repo rate unchanged at 6.5% for the tenth straight meeting although the central bank may change its policy stance of ‘withdrawal of accommodation’.