5 days ago. Delhi, India

RBI MPC meet: When and where to watch RBI Governor's address live

#ReserveBankOfIndia #ShaktikantaDas #Inflation

RBI said the decision of the MPC will be announced on August 5
It is likely to hike the repo rate by 35-50 basis points
The announcements will be made by RBI Governor Shaktikanta Das on Friday

The Reserve Bank of India (RBI) had rescheduled the meeting of its rate-setting Monetary Policy Committee by a day to August 3 due to some administrative exigencies.

The RBI said the decision of the MPC will be announced on August 5 against the earlier schedule of August 4.

Also Read | Why RBI would be pushed to hike interest rates

“Due to administrative exigencies, it has been decided to reschedule the MPC meeting from August 2-4, 2022 to August 3-5, 2022,” RBI said in a statement. The announcement is being made under Section 45ZI (4) of the Reserve Bank of India Act, 1934, RBI Chief General Manager Yogesh Dayal said.

Meeting of the Monetary Policy Committee – Rescheduling #RBItoday #RBIgovernor #monetaryPolicy https://t.co/U71CK5zzyH
— ReserveBankOfIndia (@RBI) July 21, 2022

The RBI is likely to hike the repo rate by 35-50 basis points during its upcoming monetary policy meeting, according to most economists.

Also Read | RBI expected to hike interest rate by 35-50 bps

The announcements will be made by RBI Governor Shaktikanta Das on Friday, August 5, 2022. His address and post-policy conference will be aired live on RBI’s official YouTube channel.

Post policy press conference will be aired live on Youtube at 12:00 noon on the same day.

The Monetary Policy Committee meets once every two months. In the previous meeting held from June 6 to 8, the RBI MPC decided to raise the policy repo rate by 50 basis points to 4.9% and also raised the inflation projection for the current financial year to 6.7%.

Also Read | Week ahead: RBI MPC meet, quarterly results to weigh on Sensex, Nifty

The MPC announced the bi-monthly monetary policy after deliberations on the prevailing domestic and economic situations. The rate-setting panel, headed by RBI Governor Shaktikanta Das, has two representatives from the central bank and three external members.

Also Read | Explained: Difference between RBI’s accommodative, neutral & hawkish stance

The retail inflation based on Consumer Price Index (CPI), which RBI factors in while arriving at its monetary policy, is above 6% since January 2022. It was 7.01% in June. The central government has directed the RBI to ensure that inflation remains at 4% with a margin of 2% on either side.

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RBI MPC meet: When and where to watch RBI Governor's address live

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