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monetary policy committee

RBI Monetary Policy Committee is responsible for fixing the benchmark interest rate in India. The panel meets multiple times in a year and announces its decisions. More

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  • RBI remains laser-focused to bring back inflation to 4%: Governor Shaktikanta Das Oct 22, 2021 09:21 PM IST

    RBI remains laser-focused to bring back inflation to 4%: Governor Shaktikanta Das

    The central bank has been mandated by the government to ensure the Consumer Price Index (CPI) based inflation is at 4 per cent, with a band of 2 per cent on either side.

  • September retail inflation at 4.35%, lowest since April Oct 12, 2021 05:37 PM IST

    September retail inflation at 4.35%, lowest since April

    CPI inflation has been well within the Monetary Policy Committee's inflation targeting range of 4 (+/-2) percent since December 2020, except the months of May and June 2021, when it crossed the 6 percent mark.

  • RBI policy: FY22 CPI inflation target lowered to 5.3% from 5.7% Oct 08, 2021 10:22 AM IST

    RBI policy: FY22 CPI inflation target lowered to 5.3% from 5.7%

    RBI Monetary Policy: The RBI retained the repo rate, at which it lends short-term funds to banks, at 4 percent. The reverse repo rate stands at 3.35 percent. 

  • RBI Policy: MPC keeps repo rate steady at 4%, stance remains accommodative Oct 08, 2021 10:04 AM IST

    RBI Policy: MPC keeps repo rate steady at 4%, stance remains accommodative

    RBI Monetary Policy: The MPC has kept rates steady at a time inflation is showing an easing trend and recovery is happening on the ground

  • RBI Monetary Policy: What to expect from MPC today Oct 08, 2021 07:18 AM IST

    RBI Monetary Policy: What to expect from MPC today

    The RBI’s MPC meet comes amid easing inflationary pressures and a liquidity flush in the system.

  • CPI inflation in August cools further to 5.30% Sep 13, 2021 05:40 PM IST

    CPI inflation in August cools further to 5.30%

    Consumer Food Price Inflation (CFPI) for August stood at 3.11 percent compared to 3.96 percent in July.

  • Retail inflation cools to 5.59% in July, comes back to within MPC's target range Aug 12, 2021 05:47 PM IST

    Retail inflation cools to 5.59% in July, comes back to within MPC's target range

    For the two months of May and June, CPI inflation was above the MPC's target band. It was 6.30 percent in May, as food prices had hardened, and transportation costs rose due to higher petrol and diesel prices and localised lockdowns. Headline retail inflation had cooled slightly to 6.26 percent in June.

  • June retail inflation rises 6.26 percent, official data shows Jul 12, 2021 05:40 PM IST

    June retail inflation rises 6.26 percent, official data shows

    June is the second consecutive month when headline retail inflation is above the Monetary Policy Committee's inflation targeting range of 4 (+/-2) percent.

  • Interview | India needs temporary income support plan, H2 rate hike likely says Nomura's Sonal Varma Jun 16, 2021 07:13 PM IST

    Interview | India needs temporary income support plan, H2 rate hike likely says Nomura's Sonal Varma

    Nomura’s economist expects the Indian economy to contract 4 percent in April-June compared with Jan-March and that inflation would remain a big risk that may require a hike in reverse-repo rates in the second half of the fiscal

  • Explained | The rise in retail and wholesale inflation: Why it is a matter of concern Jun 15, 2021 09:33 PM IST

    Explained | The rise in retail and wholesale inflation: Why it is a matter of concern

    At a time when the economy is reeling from the effects of a deadly wave of COVID-19, income levels have dropped and regional lockdowns have contributed to unemployment, a rise in inflation is the last thing the government wants to deal with.

  • RBI Annual Report: Revival of private consumption, investment critical for sustaining post-COVID growth May 27, 2021 10:55 PM IST

    RBI Annual Report: Revival of private consumption, investment critical for sustaining post-COVID growth

    The second wave of the pandemic has prompted revision of growth projections for the current fiscal and the consensus appears to be gravitating towards RBI's forecast of 10.5 per cent, the report added.

  • Turkey's President Tayyip Erdogan sacks another central bank policymaker, fourth ouster since March May 25, 2021 08:33 PM IST

    Turkey's President Tayyip Erdogan sacks another central bank policymaker, fourth ouster since March

    Four of the seven members of the monetary policy committee have been ousted since March 20 when Erdogan shocked financial markets by replacing Naci Agbal, a hawkish and market-friendly governor, with new chief Sahap Kavcioglu.

  • RBI Monetary Policy: Reserve Bank forecasts retail inflation at 5.2% in Q1, Q2 FY22 Apr 07, 2021 10:16 AM IST

    RBI Monetary Policy: Reserve Bank forecasts retail inflation at 5.2% in Q1, Q2 FY22

    RBI Monetary Policy: Reserve Bank Governor Shaktikanta Das said that Consumer Price Index (CPI) inflation trajectory is likely to be subject to both upside and downside pressures.

  • Banking Central| MPC may hold its horses for now but what’s the guidance going to be on rates? Apr 05, 2021 08:37 AM IST

    Banking Central| MPC may hold its horses for now but what’s the guidance going to be on rates?

    There is uncertainty on growth, inflation fronts. The policymakers do not have a clear direction on where to go on interest rates at this point.

  • Government gives Monetary Policy Committee unchanged inflation target till FY26 Mar 31, 2021 06:05 PM IST

    Government gives Monetary Policy Committee unchanged inflation target till FY26

    While the official gazette notification is still awaited, this means that the Monetary Policy Committee now has the mandate to take steps under monetary policy and inflation targeting frameworks to keep consumer price index-based inflation in the 2-6 per cent range from 2021-22 till 2025-26.

  • Exclusive | Centre may give unchanged inflation targets to RBI’s Monetary Policy Committee Mar 16, 2021 02:05 PM IST

    Exclusive | Centre may give unchanged inflation targets to RBI’s Monetary Policy Committee

    It is learnt that the RBI and the finance ministry are on the same page regarding keeping the targets unchanged. In fact, in late February, the RBI said in a report that it favours keeping the current inflation targeting regime unchanged, saying it has been effective in containing price-growth.

  • January CPI inflation comes in at 4.06%; second consecutive month of headline figure within MPC range Feb 12, 2021 06:12 PM IST

    January CPI inflation comes in at 4.06%; second consecutive month of headline figure within MPC range

    This was on the back of further cooling down of food prices. Consumer Food Price Inflation (CFPI) was 1.89 per cent in January, data by the National Statistical Office showed.

  • GDP growth for FY22 seen at 10.5%, says RBI Governor Shaktikanta Das Feb 05, 2021 10:17 AM IST

    GDP growth for FY22 seen at 10.5%, says RBI Governor Shaktikanta Das

    Further, growth is projected in the range of 26.2 percent to 8.3 percent in H1FY22 ​and 6 percent in Q3FY22.

  • RBI MPC keeps rates unchanged, says Governor Shaktikanta Das Feb 05, 2021 10:06 AM IST

    RBI MPC keeps rates unchanged, says Governor Shaktikanta Das

    The key lending rate of the RBI, or the repo rate, was left undisturbed at 4 percent while the reverse repo rate, or the key borrowing rate, was retained at 4 percent.

  • Why inflation drop may not trigger a rate cut Jan 13, 2021 07:21 PM IST

    Why inflation drop may not trigger a rate cut

  • Monetary Policy: RBI gets a breather Dec 22, 2020 12:59 PM IST

    Monetary Policy: RBI gets a breather

  • RBI's role as debt manager tested in 2020: Governor Shaktikanta Das Dec 04, 2020 11:45 AM IST

    RBI's role as debt manager tested in 2020: Governor Shaktikanta Das

    RBI Governor Shaktikanta Das said that RBI's role as debt manager and banker to the government was tested to the hilt in 2020.

  • RBI Monetary Policy: MPC projects headline inflation at 6.8% in Q3 2021 Dec 04, 2020 10:29 AM IST

    RBI Monetary Policy: MPC projects headline inflation at 6.8% in Q3 2021

    Governor Das said that CPI inflation is expected to be 6.8% for Q3 adding that it is projected to decrease to 5.8% for Q4.

  • MPC minutes: It may take years for economic growth to regain lost momentum Oct 23, 2020 04:25 PM IST

    MPC minutes: It may take years for economic growth to regain lost momentum

    There is a strong signal in the MPC minutes that growth revival may take much longer than expected and MPC’s main focus will be growth revival, rather than inflation targeting

  • Inflation targeting, agriculture, capital markets - the many areas of expertise of the new MPC members Oct 06, 2020 02:10 PM IST

    Inflation targeting, agriculture, capital markets - the many areas of expertise of the new MPC members

    Moneycontrol takes a look at the work and fields of research of Ashima Goyal, Shashanka Bhide and Jayanth Verma

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