Last Updated: October 09, 2024, 07:11 IST
The Reserve Bank’s reconstituted rate-setting panel has begun discussions for the upcoming monetary policy, with expectations leaning towards maintaining current interest rates due to inflation concerns and potential impacts from the Middle East crisis. The Monetary Policy Committee is set to announce their decision today following the three-day meeting.
While the US Federal Reserve and other central banks have decreased rates, experts predict that the RBI may stay steady. Recent changes to the MPC include the appointment of new external members – Ram Singh, Saugata Bhattacharya, and Nagesh Kumar.
Governor Shaktikanta Das, Deputy Governor Michael Debabrata Patra, and Executive Director Rajiv Ranjan are the other members of the committee. The repo rate has remained at 6.5% since February 2023, with potential easing anticipated in December.