The Reserve Bank of India’s (RBI) Monetary Policy Committee (MPC) announce the monetary policy decision on Thursday. RBI began its three-day meeting on Tuesday. This was the second bi-monthly monetary policy meeting of FY24 which began on June 6.  Headed by RBI Governor Shaktikanta Das, the six-member MPC will meet for three days.

The monetary policy panel began deliberations on Tuesday amid expectations that the central bank will keep the benchmark interest rates unchanged at 6.5 per cent on the back of easing retail inflation and the need to push economic growth.

Between May 2022 and February this year, the repo rate has been hiked by 250 bps to 6.5 per cent. In April, the MPC decided to hit the pause button on rate hikes. RBI Governor Shaktikanta Das emphasised that it was a pause and not a pivot while retaining the possibility of further tightening.