RBI Monetary Policy Committee News

The central bank will conduct three OMO purchase auctions of government bonds for an aggregate amount of Rs 60,000 crore. Three OMO auctions (Rs 20,000 crore each) will be held on January 30, February 13, and February 20. 

There was no relief as far as pulses are concerned as they turned costlier by 20.47 per cent, while the prices of cereals went up by 7.83 per cent.

A poll suggests that RBI is expected to increase interest rates in August MPC meeting. The MPC meeting will begin at 10 a.m. RBI governor will announce the interest rate trajectory.

The next bi-monthly monetary policy is scheduled to be announced on Wednesday. The policy meeting is at the end of three-day deliberations of the MPC beginning Monday. There will be no change in the repo rate this time even though a 50 basis points hike is expected next year, Bank of Baroda's Sabnavis said.

After the rate reductions, the reversed repo rate stands adjusted at 5.75 percent.

The Monetary Policy Committee headed by RBI Governor Shaktikanta Das will announce the resolution of the meeting at around 11.45 today.

The six-member Monetary Policy Committee (MPC) headed by RBI Governor Shaktikanta Das will start its three-day meet in Mumbai on Tuesday and announce the policy on February 7.

The government, he said, welcomes the assessment made by the MPC.

He also said that RBI would like to see, among other things, as to how banks pass on the benefit of earlier rate cuts to customers before it goes in for another cut.