RBI Monetary Policy Committee To Convene For Third FY25 Review

2024-08-05 02:20:40

(MENAFN- KNN India) New Delhi, Aug 5 (KNN) The Reserve Bank of India's (RBI) Monetary Policy Committee (MPC) is scheduled to commence its three-day deliberations on Tuesday, August 6, to formulate the central bank's latest monetary policy stance. This marks the third such review for the financial year 2024-25 (FY25).

RBI Governor Shaktikanta Das, who chairs the six-member MPC, will announce the committee's decision on Thursday, August 8.

The forthcoming policy review holds particular significance as it follows eight consecutive sessions where the repo rate has remained steady at 6.5 percent since February 2023.

Established in 2016, the MPC convenes at least quarterly to deliberate on key monetary policies, with the dual mandate of maintaining price stability while fostering economic growth.

The current inflation target set by the government stands at 4 percent, with a flexibility range of 2 to 6 percent.

Recent economic indicators have heightened the focus on this policy review. June saw India's retail inflation, as measured by the Consumer Price Index, reach a four-month high of 5.08 percent. Notably, food inflation surged to 9.36 percent during the same period.

(KNN Bureau)

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