RBI's monetary policy committee starts deliberations amid expectations of moderate rate hike
The Hindu
RBI Governor Shaktikanta Das would be announcing the bi-monthly monetary policy on Dec. 7 on the conclusion of the three-day of MPC meet
The Reserve Bank of India‘s (RBI’s) rate-setting panel on December 5 started brainstorming for the next round of monetary policy amid expectations of a moderate interest rate hike of 25-35 basis points as inflation has started showing signs of easing and economic growth tapering.
The RBI has hiked key benchmark lending rate by 50 basis points (bps) thrice since June over and above an off-cycle 40 bps increase in repo in May.
RBI Governor Shaktikanta Das would be announcing the bi-monthly monetary policy on December 7 on the conclusion of the three-day of Monetary Policy Committee (MPC) meet.
India’s largest lender State Bank of India (SBI) in a research report authored by Group Chief Economic Adviser Soumya Kanti Ghosh on Monday said, “We expect the RBI to hike rates in smaller magnitude in December policy attuned to emerging market central banks and the overall rate setting tone. A 35-bps repo rate hike looks imminent. We believe at 6.25%, it could be the terminal rate for now”.
The current policy repo rate is 5.9%.
Several other experts too expect the rate hike to be in the range of 25-35 basis points on December 7.
On September 30, the RBI had hiked the key policy rate (repo) by 50 basis points with an aim to check inflation.
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