3-day Monetary Policy Committee Meeting begins today, Rate hike likely


Mumbai:  The three-day meeting of the Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI)  will begin today under the chairmanship of the Bovernor Urjit Patel. The MPC will announce thr 3rd bi-monthly monetary policy statement at 2.30 pm on the 1st August, Wednesday.

With headline inflating is increasing, experts believe, the MPC may focus on taming inflation by increasing the interest rate again.  The Consumer Price Index (CPI) Inflation for the month of June rose to 5%, while the Index of Industrial production ( IIP) growth in May slumped to a low of 3.2%. Meanwhile, the Wholesale Inflation rose to four and half years high to 5.77 percent in June due to rise in fuel and food prices.

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