RBI Monetary Policy meeting outcome on April 5: Date and time; where to watch live

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New Delhi: The RBI monetary policy committee’s first meeting in the new financial year started on April 3, 2024 and will conclude on April 5, 2024. While the central bank has repeatedly ruled out any expectations of a rate cut, amid expectations of the inflation rate remaining above 4 per cent, markets and economy watchers will wait and watch to know the RBI’s guidance on the state of the economy.

Where to watch RBI governor’s address

RBI Governor Shaktikanta Das will share the MPC decision on Friday, Aoril 5, 2024 starting at 10 am. The roughly 1-hour long announcement will contain:

MPC decision on repo rate
MPC stance
MPC guidance in inflation
MPC guidance on GDP
Information on state of the global economy
The announcement will be streamed live on RBI’s YouTube channel at this link

The announcement will be followed by a press briefing at 12 pm in which the RBI governor will be accompanied by deputy governors:

Swaminathan J
T. Rabi Sankar
M. Rajeshwar Rao M.D. Patra

The briefing will be broadcast on this link.

RBI MPC meeting schedule for FY25

The RBI MPC meeting schedule for FY25 is as follows:

April 3-5, 2024 (ongoing)
June 5-7, 2024
August 6-8, 2024
October 7-9, 2024
December 4-6, 2024
February 5-7, 2025

RBI MPC decisions in FY24

RBI MPC has kept the repo rate unchanged over the past 6 cycles.
The monetary policy committee has kept the repo rate at 6.5 per cent through the financial year 2023-24.
The MPC’s stance has been maintained at “withdrawal of accommodation”.
The RBI had started raising the repo rate in 2022 during an off-cycle meeting. The MPC hiked the repo rate by 40 basis points to 4.40 per cent.
Since then, the MPC has raised the repo rate by 150 basis points or 1.50 per cent.

RBI MPC February meeting highlights

RBI forecast the following inflation figures:

Q1FY25: 7.2 per cent
Q2FY25: 6.8 per cent
Q3FY25: 7 per cent
Q4FY25: 6.9 per cent

RBI GDP forecast

Quarter
Inflation (in %)

Q1FY25
7.2

Q2FY25
6.8

Q3FY25
7

Q4FY25
6.9

RBI inflation forecast

Quarter
GDP (in %)

Q1FY25
6.7

Q2FY25
6.5

Q3FY25
6.4

RBI’d other key announcements:

The central bank said that it will issue a revised framework for electronic trading platforms
RBI allowed resident entities to hedge gold price risk in IFSC
RBI directed lenders to share key fact statement for borrowers
The central bank called for streamlining Aadhaar-enabled payment services
Alternative authentication for digital payments
Offline CBDC for retail transactions

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