MPC Meeting
RBI's reschedules Aug MPC meeting due to 'administrative exigencies'
Mumbai: Reserve Bank of India (RBI) Thursday said that the Monetary Policy Committee’s (MPC) meeting next month is rescheduled due to “administrative exigencies.”
The meeting has been postponed by a day and the MPC will now meet on August 3-5 instead of the previously scheduled August 2-4, said the RBI.
The rate-setting committee is expected to raise the key policy rate further, having raised the repo rate by 90 basis points in May and June meetings.
One bps equals one-hundredth of a percentage point.
The repo rate currently stands at 4.90 percent.
Support Our Journalism
We cannot do without you.. your contribution supports unbiased journalism
IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.
