The Reserve Bank of India will announce the sixth bi-monthly monetary policy statement for 2018-19 today. The three-day policy review meeting by the Monetary Policy Committee (MPC) began in Mumbai on Tuesday. The MPC is headed by RBI Governor Shaktikanta Das.
“The RBI’s Monetary Policy Committee (MPC) began its three-day meet to decide on key rates amid expectations that it would change stance to neutral on low inflation but may not cut rates due to fiscal challenges and rising oil prices.
In its last bi-monthly monetary policy, the bank had kept the repo rate unchanged at 6.5 percent and the reverse repo rate at 6.25 percent. The central bank has maintained status quo on interest rate in its last three bi-monthly monetary policies after hiking the repo rate twice this fiscal by 25 basis points each.