Amid high inflation and weak GDP growth numbers, the Reserve Bank is expected to announce the decision on interest rate after the conclusion of the three-day monetary policy panel meeting on Friday morning. Experts are of the view that the central bank is likely to opt for status quo on the short-term lending rate (repo), and will possibly tinker with cash reserve ratio (CRR) keeping in mind the mixed economic trends.
Reserve Bank Governor Shaktikanta Das headed six-member Monetary Policy Committee (MPC) started its meeting to decide on the next set of bi-monthly monetary policy on Wednesday. “Coming up: Monetary Policy Statement by #RBI Governor @DasShaktikanta on December 06, 2024, at 10:00 am,” the Reserve Bank announced on social media platform ‘X’.
Das is chairing the last MPC meeting of his current term which ends on December 10. The Reserve Bank has kept the repo or short-term lending rate unchanged at 6.5 per cent since February 2023.
India’s economic growth slowed to near two-year low of 5.4 per cent in the July-September quarter of this fiscal due to poor performance of manufacturing and mining sectors. The gross domestic product (GDP) had expanded by 8.1 per cent in the July-September quarter of 2023-24 fiscal.
