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RBI MPC April Meeting: Where and When To Watch?
RBI MPC April 2024 Meeting: The meeting of the RBI’s Monetary Policy Committee, which started on Wednesday, will conclude today
RBI MPC April 2024 Meeting: The meeting of the RBI’s Monetary Policy Committee, which started on Wednesday, will conclude today (Friday morning), and the decision will be announced by RBI Governor Shaktikanta Das. The RBI governor will present the latest monetary policy statement at 10 am on April 5 (Friday).
Apart from announcing MPC’s decision on the repo rate, reverse repo rate and other policy rates, Das will also discuss the current domestic as well as global economic situation.
After the policy announcement, the RBI governor will also address a press conference which will be telecast at 12:00 pm on Friday.
Here is How to Watch RBI Monetary Policy Decisions LIVE Today
The Reserve Bank of India has put out a post on X to explain where and how to watch RBI MPC meet live. “Monetary Policy statement by #RBI Governor @DasShaktikanta at 10:00 am on April 5, 2024. Watch live at: https://www.youtube.com/live/ZnAuVmhKGQc?feature=share
Facebook: The address will be simultaneously streamed on Reserve Bank of India’s Facebook page.
X: RBI Governor Shaktikanta Das’ address to the country will also be streamed on the Central Bank’s official Twitter handle @RBI on X.
“Post policy press conference telecast at 12:00 pm on the same day. https://www.youtube.com/live/-QyXRW4LPdk?feature=share,” the RBI said in a post on X.
Other key dates for FY25 MPC meets
The next MPC meetings have been scheduled for the following dates:
June 5-7, 2024
August 6-8, 2024
October 7-9, 2024
December 4-6, 2024
February 5-7, 2025
RBI policy decision: What does MPC do?
The MPC’s task is to keep the country’s retail inflation within four per cent with a margin of two per cent on either side.
The committee meets at least four times a year to discuss the direction the central bank wants to pursue in the financial year, with the aim to strike a balance between sustaining growth and maintaining the inflation target.
Following their assessment, the committee decides whether to maintain, raise, or lower the repo rate.
RBI monetary policy: What to expect?
Despite expectations for a potential shift, the domestic rate-setting panel opted to maintain the status quo in all six policy review meetings throughout the financial year 2024-25.
Economists anticipate the MPC to hold the benchmark repo rate steady at 6.5%, balancing inflation control with economic growth. However, recent positive economic data could prompt a revision in inflation forecasts, hinting at a potential future rate hike.
The RBI’s policy stance on ‘accommodation withdrawal’ will also be under scrutiny, signaling future rate adjustments. The announcement is keenly awaited by businesses and borrowers, as it will influence loan costs and investment activity.
Vimal Nadar, senior director & head (research) at Colliers India, said, “The RBI is expected to continue its ‘pause’ stance and keep the benchmark lending rate at 6.5 per cent for the fourth consecutive time. While consumer price inflation has moderated from the 15-month high of 7.44 per cent in July 2023, the concerns of elevated food inflation remain high, and the Central Bank will be cautious.”
Nonetheless, RBI has already revised the inflation projection to 5.4 per cent for FY 2023-24 to accommodate these concerns. Steady repo rates will continue to bring in stability in home loan lending rates by major banks & financial institutions. “This is critical during this festive period when most of the fence sitters & first-time home buyers look for lucrative deals from developers & lending institutions to buy their dream home,” he added.
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