RBI MPC JUNE 2024: RBI Governor will announce at 10 am whether your loan has become cheaper or not! Watch Live here

RBI MPC JUNE 2024 :  Reserve Bank of India Governor Shaktikanta Das will announce bimonthly monetary policy at 10 am today. Policy rates are likely to remain unchanged amid inflationary concerns. The Reserve Bank of India (RBI) has kept the policy repo rate unchanged at 6.5 percent from February 2023.

Repo rate expected to remain unchanged

Experts believe that the RBI will keep the policy rate unchanged amid inflationary concerns. However, the European Central Bank and the Bank of Canada have started to cut their key policy rates. Das will announce the decision at 10 am after deliberations by RBI's Monetary Policy Committee.

Inflation was 4.83% in April

The three-day meeting of the MPC began on Wednesday. Experts said the MPC may avoid cutting policy rates as economic growth picks up pace. According to a report by SBI Research, consumer price index-based inflation is estimated to be five percent in May. Retail inflation was 4.83 percent in April.

Who are the members of MPC?

RBI's MPC has six members. It has both external and RBI officials. Governor Das is accompanied by RBI official Rajeev Ranjan as Executive Director and Michael Debbrat Patra as Deputy Governor. Shashank Bhide, Ashima Goyal and Jayant R Verma are external members. Let us tell you that RBI's Monetary Policy Committee meets every two months.

No deduction for seven consecutive times

The repo rate currently stands at 6.5 percent. The Reserve Bank has not changed the repo rate for the last 7 times. It is believed that there will be no change in the repo rate for the eighth time today. The Reserve Bank last increased the repo rate to 6.5 percent in February 2023. But since then there has been no reduction yet.

The MPC meeting lasted for three days

The meeting of the Reserve Bank's Monetary Policy Committee began on June 5 and lasted for three days. Today on June 7, the Reserve Bank will announce whether the policy rate will remain at the same level or there will be a change. The Reserve Bank's policy meeting is held once in two months.