RBI Policy December 2022 Updates: The decision of the Reserve Bank of India (RBI) Governor Shaktikanta Das headed six-member Monetary Policy Committee (MPC) will be announced on Wednesday. The central bank is widely seen raising its key policy rate as inflation continues to stay above its tolerance band.
RBI had slashed the repo rate in March, 2020 with an aim to cushion the impact of covid-induced lockdown, and maintained status-quo in the benchmark interest rate for almost two years before increasing it on May 4, 2022. The RBI has raised rates by a total 190 basis points since its first unscheduled mid-meeting hike in May and expectations are there for at least two more rate hikes in the current cycle including the one on Wednesday.
Rupee opening
Rupee declined 25 paise to open at 82.75 against the US dollar in early trade on Wednesday ahead of the RBI policy
Outlook on growth to watch
The central bank’s outlook, which will accompany the rates decision, will be an important pointer to future policy moves, as per experts
MPC statement
RBI Governor Shaktikanta Das will announce the Monetary Policy statement at 10:00 am on Wednesday, December 7, 2022
Inflation blues
India’s retail inflation fell to a three-month low of 6.77% in October, down from 7.41% in September. However, remained above the RBI’s tolerance band for the 10th consecutive row
Rate hike on the cards
The central bank is widely expected to increase the repo rate again for the fifth time in a row by up to 35 basis points as inflation continues to stay above its tolerance band
RBI MPC Meet
The six-member Monetary Policy Committee headed by the RBI Governor Shaktikanta Das started deliberations on the bi-monthly policy review on Monday
Download
the App to get 14 days of unlimited access to Mint Premium absolutely free!
For all the latest world News Click Here
