Monetary Policy Live: When And Where To Watch RBI Governor Press Conference
The six-member Monetary Policy Committee, led by Reserve Bank Governor Shaktikanta Das, will consider various domestic and global factors before announcing its decision on Friday, June 7.
RBI Monetary Policy: The Monetary Policy Committee or MPC of the Reserve Bank of India (RBI) met on June 5, to discuss the second bi-monthly monetary policy for the fiscal year 2024-25.
RBI Governor Shaktikanta Das will convey the MPC announcements during his press conference scheduled on June 7. This will be the second MPC meet after the Interim Budget which was presented by FM Nirmala Sitharaman on February 1 and will be the first after the recently concluded Lok Sabha Elections which saw NDA regain majority to form the government for the next 5 years.
Read all the live updates from Shaktikanta Das' speech here
The June 2024 MPC meet will also be the last before the full budget which is likely to be presented around July 10-12, 2024.
The Monetary Policy Committee or MPC will discuss the current economic situation and decide on the future course of monetary policy.
RBI Monetary Policy Time
RBI Governor Shaktikanta Das will announce the MPC's decision on Friday, June 7 at 10:00 am while the policy press conference will be telecasted at noon on the same day.
RBI Monetary Policy: How To Watch
Live streaming of the RBI Monetary Policy announcement can be watched on our NDTV Profit YouTube channel here.
You can also bookmark the YouTube link given below to watch the live press conference at 10 am.
RBI Monetary Policy: Where to watch on TV?
Viewers can watch the press conference live on the NDTV Profit TV channel or tune into Live TV on NDTV Profit website.
Moreover, you can tune in to our Live Blog on the day of the RBI Monetary Policy announcement on June 7 for regular updates.
The live streaming of the address will be available on RBI's YouTube channel as well.
RBI Monetary Policy Expectations
All economists polled by Bloomberg expect the MPC to hold the Reserve Bank of India's repo rate steady at 6.5% on Friday. India's Monetary Policy Committee is likely to maintain the status quo on the Reserve Bank of India's key lending rate amid the continuing need to bring down inflation further, even as economic activity remains strong.
A research note by Barclays stated, "We continue to expect the window for a rate cut to open only in December 2024, with the central bank noting solid growth, which allows it to focus solely on inflation," stated a research note by Barclays. Credit conditions still do not show signs of overtightening".
RBI Monetary Policy Highlights - April 2024
India's Monetary Policy Committee kept the benchmark repo rate unchanged for the seventh straight meet.
Following the review, the MPC decided:
To keep the repo rate unchanged at 6.5% with a 5:1 majority.
The standing deposit facility rate, pegged 25 basis points below the repo rate, is at 6.25%.
The marginal standing facility rate, which is 25 basis points above the repo rate, is at 6.75%.
The committee had raised the benchmark repo rate by 250 basis points in the last cycle before opting for a pause in April last year.
Growth and inflation projections for FY25 were retained. Headline inflation has eased but remains above the target, driven by food price pressures, though easing core inflation remains a silver lining.
Economic activity remains resilient with a positive momentum so far and growth continues to surpass estimates. Official estimates peg GDP growth at 7.6% for FY24.
RBI Repo Rate History
Here's how the repo rate has changed over last 22 years.
