RBI Monetary Policy Committee meeting begins, to announce last monetary policy of FY20 on Thursday


Biznextindia: Amid rising inflation and slowing of the economy, the Reserve Bank of India (RBI) will announce its last bi-monthly Policy statement of the financial year on Thursday, 6th February. For this the 3-day meeting of the Monetary Policy Committee (MPC) has begun today.

“The Monetary Policy Committee (MPC) will meet during February 4 to 6, 2020 for the Sixth Bi-monthly Monetary Policy Statement for 2019-20. The resolution of the MPC will be placed on the website at 11.45 AM on February 6, 2020”RBI said in a statement.

The economic survey estimated that the economy will grow at 5 percent in the current financial year. India’s retail inflation also peaked to 5 year high at 7.3 percent in December.

In its last policy statement, RBI had kept Repo Rate unchanged at 5.15%. Consequently, the reverse repo has also remained unchanged at 4.9% and the marginal standing facility (MSF) rate and the Bank Rate at 5.40 per cent. 

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