RBI puts off policy meet by a day to August 5 – Times of India

RBI puts off policy meet by a day to August 5 – Times of India

MUMBAI: The Reserve Bank of India (RBI) has rescheduled the monetary policy committee (MPC) meeting by postponing it by a day. The meeting, which was scheduled for August 2-4, will now be held on August 3 and end on August 5. The bimonthly MPC meeting is held to decide on key policy rates. It is widely expected that the central bank will raise policy rates by 35-50 basis points (100bps = 1 percentage point) in the meeting.
There has also been some speculation that the MPC may do an off-cycle review of interest rates ahead of the US Federal Reserve meet. However, with the central bank announcing fresh dates close to the meeting, chances of an off-cycle hike have dimmed.

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