RBI to announce its Monetary Policy decision Today, Rate hike expected

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Mumbai: The Reserve Bank of India (RBI) will announce its bi-monthly policy rates today afternoon. The Monetary Policy Committee (MPC) of the RBI has started its deliberations from 3rd of this month and the resolution of of the MPC will be uploaded at 2.30 pm in the RBI website.

The timing of the monetary policy review is crucial, in the backdrop of depreciating Rupee, Rising Crude Oil prices. The MPC while reviewing the interest Rates may also consider the hike in MSP of Ravi Crops announced by the Central government recently and its possible impact on the inflation front.

In its last two bi-monthly policy reviews, announced in August and June, RBI had raised repo rates by 25 basis points each. So if RBI raises repo rate today, it’ll be for the 3rd consecutive rate hike.

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