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RBI policy meet begins; decision on key rate today

Wednesday, December 06, 2017

RBI Governor Urjit Patel headed Monetary Policy Committee started two-day deliberations yesterday amid several experts saying that the central bank is unlikely to lower the key interest rate and will stay focused on controlling inflation. The MPC meeting outcome is being keenly awaited by all stakeholders including the industry and stock markets.

In its October review, the MPC had kept the benchmark interest rate unchanged on fears of rising inflation while lowering growth forecast to 6.7% for the current fiscal. The Reserve Bank of India had reduced the benchmark lending rate by 0.25 percentage points to 6% in August, bringing it to a 6-year low.

Bankers and experts are of the view that for the second time in a row it may keep the repo-rate or short term lending rate unchanged as inflation trajectory is likely to remain upward in the coming months.

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