Page 2 - Mpc Meet

MPC ups inflation projection for Q3 and Q4, keeps it at 6.7% for full FY23

Panel cuts economic growth forecast by 20 bps to 6.8% for the year; Q3 lowered by 20 bps and Q4 by 40 bps

Cooling prices give Reserve Bank of India space to slow interest-rate hikes

Das will announce the rate decision through a webcast at 10 am in Mumbai on Wednesday, and will address a press conference at 12 pm.

Rupee gains 8 paise to 81.25 against US dollar ahead of MPC review

The rupee appreciated 8 paise to 81.25 against the US dollar in early trade on Monday supported by a weak dollar in the overseas market. Forex traders said weak domestic equities weighed on the local unit and restricted the appreciation bias. At the interbank foreign exchange, the domestic unit opened at 81.26 against the dollar, then gained further ground to touch 81.25, registering a rise of 8 paise over its previous close. On Friday, the rupee had settled down by 7 paise at 81.33 against the dollar. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, fell 0.37 per cent to 104.15. Brent crude futures, the global oil benchmark, advanced 1.05 per cent to USD 86.47 per barrel. In the domestic equity market, the 30-share BSE Sensex was trading 139.99 points or 0.22 per cent lower at 62,728.51. The broader NSE Nifty fell 22.60 points or 0.12 per cent to 18,673.50. Foreign Institutional Investors (FIIs) were net buyers in the capit

RBI seen raising interest rates by 35 bps in December MPC meet: Poll

The expectations for a more modest rate rise follow a series of 50 basis point hikes by the RBI

TMS Ep296: Stubble fires, Douglas Diamond, markets, RBI letter to govt

Why can't Punjab put out stubble fires? What does Douglas Diamond think of dominance of PSBs? Is geopolitics a big worry for markets? Why RBI has to write to the govt over inflation? Answers here

RBI's MPC meets to draft letter to govt on missing inflation target

The meeting was chaired by RBI Governor Shaktikanta Das and attended by all the other five members of the rate setting panel

High inflation a result of exogenous price shocks, says MPC member

The high inflation rate in the last three quarters is mainly a consequence of the 'exogenous' price shocks, and addressing the issue will require coordinated policy efforts, RBI Monetary Policy Committee (MPC) member Shashanka Bhide has said. Bhide further said the inflationary pressures are high and it certainly is a test for India's inflation targeting framework. "The high inflation rate in Q2 FY2022-23 follows high inflation in the previous two quarters. "High fuel and food prices and their spillover to other sectors have sustained the high inflation rate," he said in an email interview with PTI. The retail inflation based on CPI has remained above 6 per cent since January 2022, and it was 7.41 per cent in September. The MPC factors in retail inflation while deciding the RBI's bi-monthly monetary policy. "While this pattern is mainly a consequence of the exogenous price shocks, it is important to take measures to limit the spillover of the price shocks to the rest of the ...

RBI release suggests Nov MPC meet only to discuss inflation target failure

MPC may decide RBI's response to govt on the matter; Unlike earlier off-cycle meetings in which interest rate action was taken outside schedule without prior notice, this one was announced in advance

Reserve Bank to hold additional monetary policy meeting on November 3

The MPC hiked the policy repo rate by 50 basis points (bps) to 5.9 per cent in the last policy review, announced on September 30

Demonetisation behind the buoyancy in tax collections, says RBI MPC member

RBI Monetary Policy Committee (MPC) member Ashima Goyal has attributed the rise in tax collections to demonetisation and said that it will help the nation move towards the ideal situation where low taxes are levied on a large base. On November 8, 2016, Prime Minister Narendra Modi announced the demonetisation of old Rs 1,000 and Rs 500 banknotes and one of the key objectives of the unprecedented decision was to curb black money flows and promote digital payments. Noting that demonetisation had short-term costs but some long-term benefits, Goyal said it enhanced digitisation and formalization in the economy and reduced tax evasion, although all this has further to go. "It contributed to the buoyancy in taxes the country is benefitting from today. This helps us move towards the ideal of low tax rates on a large base," she told PTI. The tax department on October 9 said that the gross collection of tax on corporate and individual earnings jumped nearly 24 per cent so far in the current

Bond yields ease as MPC minutes hint at slower interest rate hikes

1-year bond yield logs the sharpest fall in two-and-a-half months

Sharp differences among MPC members on future interest rate hikes

The next review of the monetary policy committee is scheduled on December 5-7

As MPC raises growth projections, what makes the panel so optimistic?

The MPC believes that there is growth momentum due to better farm production, government policies to boost capex, improvement in business and consumer sentiment

Rupee fluctuations not a factor for MPC's consideration, says RBI

'Net LAF continues to be in surplus for the past two years, except for 2-3 days when because of SLF for the primary dealers it became deficit'

Sensex falls 509 pts, Nifty near 16,850; RIL, ITC shed 3%, pharma stocks up

CLOSING BELL: Among sectors, the Nifty Metal, and PSU Bank indices dipped 2 per cent each, while the Nifty Pharma index gained 0.6 per cent

Latest news LIVE: Chandigarh University closed till Saturday amid protests

From Covid to all other developments, catch all the live news updates here

Top Headlines: 35-50 bps rate hike by MPC; advance tax mop-up rises 17%

The RBI's Monetary Policy Committee (MPC) is likely to lift the policy repo rate by 35-50 basis points (bps) on September 30, according to a Business Standard poll

RBI Sept monetary policy review: Another 35-50 bps repo rate hike on cards

Terminal repo rate seen at 6%; interest cost for retail, MSMEs went up by Rs 42,000 crore says SBI report

MPC retains inflation forecast for FY23 but highlights external uncertainty

The projections of inflation for FY23 are based on the assumption of an average crude oil price of $105 per barrel and a normal monsoon

LIVE: More than 60 Congress MPs released after 6 hours of detention

Latest news Live updates: Former Congress chief Rahul Gandhi, Priyanka Gandhi Vadra, K C Venugopal, Adhir Ranjan Chowdhury and Gaurav Gogoi were among the MPs detained