Live updates from today’s RBI MPC meeting: The Reserve Bank of India (RBI) decided on short-term rate lending. Shaktikanta Das says the central bank has maintained the repo rate at 6.5% as anticipated. The only other MPC member to propose a 0.25 percent reduction in repo rates was Prof. Jayanth Varma. Tuesday, February 6, marked the start of the central bank’s bimonthly Monetary Policy Committee (MPC) meeting.
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Shaktikanta Das reports that the CPI inflation rate is moderating with sporadic interruptions and spikes during the live RBI MPC meeting.
Live updates from today’s RBI MPC meeting: “CPI inflation is moderating, with sporadic spikes and disruptions. Regarding the incoming data and the outlook, we must continue to exercise caution. RBI Governor: “We must not give up on our goal of achieving 4% inflation on a sustainable basis. The press conference follows the MPC announcements.
#WATCH | RBI Governor Shaktikanta Das says, "Amidst the current headwinds elevated levels of public debt are raising serious concerns on macroeconomic stability in many countries, including some of the advanced economies. The global public debt to GDP ratio is projected to reach… pic.twitter.com/hO11C9rO96
— ANI (@ANI) February 8, 2024
Live updates from the RBI MPC meeting: According to Shaktikanta Das, markets are ahead of central banks in anticipation of shifts in policy.
Live updates from today’s RBI MPC meeting: “Global markets are outpacing central banks ahead of potential shifts in policy.” However, central banks continue to be cautious and wait for a more stable inflation-target alignment, the RBI Governor stated at the press conference following the MPC announcements.
Live updates from the RBI MPC meeting: Shaktikanta Das states that there is still a lot of strength in domestic economic activity.
Live updates from today’s RBI MPC meeting: “The state of domestic economic activity is still robust. In the press conference that followed the MPC, RBI Governor stated, “We anticipate a 7% growth in the real GDP in the upcoming fiscal year 2024–2025.
Live updates from the RBI MPC Meeting: The next meeting is set for the first week of April.
Live updates from today’s RBI MPC meeting: The RBI said on Thursday (February 8) that the six-member MPC will reconvene to discuss monetary policy from April 3-5, 2024.
Live updates from the RBI MPC meeting: Prof. Jayanth Varma is the only member of the MPC who can vote to lower repo rates.
Live updates from today’s RBI MPC meeting: Members of the RBI MPC Michael Debabrata Patra, Ashima Goyal, Rajiv Ranjan, Shaktikanta Das, and Shashanka Bhide voted in favor of maintaining the policy rate. Prof. Jayanth R. Varma was the only one to vote against the proposal to lower the policy repo rate by 25 basis points.
RBI MPC Meeting Live Updates: Shaktikanta Das reports that GVA increased by 6.9% from 2023 to 2024
Live updates from today’s RBI MPC meeting: According to RBI Governor Shaktikanta Das, the manufacturing and services sectors were the main drivers of India’s 6.9% GDP growth in 2023–2024.
#WATCH | RBI Governor Shaktikanta Das says, "…The Reserve Bank undertook six fine-tuning variable rate reverse repo auctions, that is, VRRR auctions from February 2 to February 7, 2024 to absorb surplus liquidity. Financial market segments have adjusted to the evolving… pic.twitter.com/j5WLX1zJDy
— ANI (@ANI) February 8, 2024
Live updates from the RBI MPC meeting: RBI Governor predicts 7.3% GDP growth in FY 2023–2024.
RBI MPC Meeting Live Updates: According to the National Statistical Office’s (NSO) first advance estimates (FAE), “strong investment activity is expected to underpin real gross domestic product (GDP) growth of 7.3% year-over-year in 2023–2024.” This statement is made by RBI Governor Shaktikanta Das.
Also Read: Union Government May Ease GST Demands for Online Gaming Companies: Sources
Live updates from the RBI MPC Meeting: The RBI maintains the 6.25% standing deposit facility rate.
Live updates from today’s RBI MPC meeting: The 6.25 percent standing deposit facility (SDF) rate is not changing. Additionally, the RBI has maintained the 6.75 percent bank rate and the marginal standing facility (MSF) rate at that level.
#WATCH | RBI Governor Shaktikanta Das says, "Global growth is expected to remain steady in 2024, with heterogeneity across regions. Though global trade momentum remains weak, it is exhibiting signs of recovery and is likely to grow faster in 2024. Inflation has softened… pic.twitter.com/gxbg1P11Pn
— ANI (@ANI) February 8, 2024
Live updates from the RBI MPC meeting: In 2024, global growth is anticipated to stay stable, according to Shaktikanta Das.
Live updates from today’s RBI MPC meeting: According to RBI Governor Shaktikanta Das, in 2024, global growth is anticipated to stay constant. By the end of this decade, the global public debt to GDP is expected to reach 100%, according to him.
