RBI MPC October 2023: The monetary policy committee of the Reserve Bank of India commenced discussions on Wednesday, October 4, with anticipations pointing towards the likelihood of the central bank maintaining the benchmark interest rates at 6.5%. This inclination is attributed to the alleviation of retail inflation and the imperative to stimulate economic growth.
Headed by RBI Governor Shaktikanta Das, the six-member Monetary Policy Committee (MPC) is meeting for three days and the decision would be announced on Friday, October 6.
RBI MPC Announcement Time
The RBI governor will present the latest monetary policy statement at 10 am on October 6, Friday, including the decision on key policy rates like repo rate, reverse repo rate, etc.. He is expected to talk about the current domestic as well as global economic situation.
After the policy announcement, the RBI governor will also address a press conference at 12:00 pm on Friday.
How to Watch RBI Monetary Policy Decisions LIVE
YouTube: You can watch the LIVE address of RBI governor on YouTube in the link below given link.
Facebook: The address will be simultaneously streamed on the Reserve Bank of India’s Facebook page.
Twitter: RBI Governor Shaktikanta Das’ address to the country will also be streamed on the Central Bank’s official Twitter handle @RBI.
After the last MPC meeting in August, the RBI maintained its pause on rate hike cycle, which stayed with the 6.5% repo rate from April 2023.
Prior to that the central bank had cumulatively hiked the repo rate by 250 basis points since May 2022 in a bid to contain inflation.
The government has mandated the RBI to ensure CPI inflation at 4% with a margin of 2% on either side.
The other members of the MPC are: Shashanka Bhide (Honorary Senior Advisor, National Council of Applied Economic Research, Delhi); Ashima Goyal (Emeritus Professor, Indira Gandhi Institute of Development Research, Mumbai); Jayanth R Varma (Professor, Indian Institute of Management, Ahmedabad); Rajiv Ranjan (Executive Director, RBI); and Michael Debabrata Patra (Deputy Governor, RBI).