RBI to Announce Monetary Policy on October 9
It was earlier scheduled from September 29 to October 1 to decide on key interest rates in the backdrop of economic slowdown due to COVID-19 crisis. However, the MPC meeting could not be held as the tenure of three previous government appointees had ended.
Mumbai, October 6: The next meeting of Reserve Bank of India's (RBI's) Monetary Policy Committee (MPC) will be held from October 7 to 9, the central bank said on Tuesday.
It was earlier scheduled from September 29 to October 1 to decide on key interest rates in the backdrop of economic slowdown due to COVID-19 crisis. However, the MPC meeting could not be held as the tenure of three previous government appointees had ended. House Price Index Rises 2.8% on Annual Basis: RBI.
Late on Monday, the government named Shashanka Bhide, Ashima Goyal and Jayanth Varma as its nominees on the RBI's MPC. The new members have been appointed for a four-year term.
Several experts say the RBI is expected to keep key interest rates on hold until early next year to maintain a delicate balancing act between curbing high inflation and lifting the economy from its worst recession in decades.