Page 2 - Mpc

Malaysia's central bank to maintain overnight policy rate at 2.75%

The Monetary Policy Committee (MPC) of Bank Negara Malaysia (BNM) on Thursday decided to maintain the overnight policy rate (OPR) at 2.75 per cent.

Further tightening could push growth down to 5%: MPC member Ashima Goyal

Continuing to raise nominal repo rates until core inflation falls could imply an overshooting or excess tightening of real rates, says the MPC member in an interview with Business Standard

Growth is fragile, real interest rates too high: MPC member Jayanth Varma

In an interview with Business Standard, MPC member Jayanth Varma says the committee should not tie its hands by adopting the withdrawal of accommodation stance

Pass-through of fall in commodity prices not clear: RBI MPC's Bhide

'In the past two meetings, the size of the rate increases have come down'

Need to pause rate hikes as growth risks are significant: Jayant Varma

India's monetary policy panel failed in its mandate to keep inflation within the 2%-6% band, with it breaching the upper tolerance limit for three consecutive quarters to September 2022

RBI MPC minutes show deepening concerns over inflation pressures

Disinflation can't rely only on food, must be firm in inflation fight, says RBI Das

Top headlines: FDI equity inflow contracts, no increment for Flipkart execs

Business Standard brings you the top headlines at this hour

Rate hike not warranted as economic growth worries: RBI MPC minutes

Two of the three external members on the Reserve Bank Monetary Policy Committee (MPC) were not in favour of raising the key interest rate this month with one of them saying it was "not warranted" as inflationary expectations were diminishing and economic growth remained a concern. External members Jayanth R Varma and Ashima Goyal were not in favour of raising rates any further, according to the minutes of the February 6-8 MPC meeting released by the RBI on Wednesday. The third external member Shashanka Bhide went along with the three Reserve Bank members and voted for raising the key policy rate for the sixth time in a row. "In the second half of 2021-22, monetary policy was complacent about inflation, and we are paying the price for that in terms of unacceptably high inflation in 2022-23," Varma said as per the minutes. In the second half of 2022-23, monetary policy has, in his view, become complacent about growth, and "I fervently hope that we do not pay the price for this in te

Global uncertainty complicates fight against inflation: RBI Dy Governor

The continuing global uncertainity has complicated the fight against inflation, opined Reserve Bank Deputy Governor Michael Debabrata Patra during the Monetary Policy Committee meeting held on February 8. According to the minutes of the MPC meeting released on Wednesday, RBI Governor Shaktikanta Das also mentioned that there is considerable uncertainty due to a host of global factors such as rising non-oil commodity prices. The RBI on February 8 hiked the key short-term lending rate by 25 basis points to 6.5 per cent, citing sticky core inflation. It was the sixth interest rate hike by the Reserve Bank of India (RBI) since May last year, taking the total quantum of increase to 250 basis points. "The fight against inflation is complicated by the global outlook. There is some consensus growing around a milder slowdown than earlier feared, although geographical disparities complicate the prognosis. Be that as it may, the outlook for global inflation is turning more uncertain than ...

Monetary policy stance must remain disinflationary, says RBI report

Says GDP growth will receive 15 bps boost from tax cuts

MPC's 11.7% nominal GDP growth projection way higher than Budget estimate

If MPC's projections hold good, various figures in the Budget would change when the revised estimates are worked out

MPC meet: No change in stance, RBI hints at more policy rate hikes

Policy rate increased by 25 bps to a 4-year high of 6.5%

Bond yields harden as Reserve Bank shows no sign of policy turn

Traders expect the excess cash with banks to dry up significantly over the next three to four months

Analysts expect RBI to hike repo rate 25 bps again in April policy

Analysts are of the view that after delivering the seventh hawkish policy on Wednesday the central bank may pause after delivering a likely 25 basis points increase in the April review. For Abheek Barua, the chief economist at HDFC Bank, the 25 bps repo hike and keeping its withdrawal of accommodation stance unchanged are on expected lines, the policy tone was hawkish as the RBI-MPC has recognised that they are still away from achieving their objective of durable disinflation, which still looks distant as the core inflation continues to remain sticky. Even as headline inflation is likely to moderate over the coming months, core inflation could remain sticky, and if the RBI chooses to continue seeing signs of durable moderation in core inflation as a yardstick for policy tightening, another 25 bps rate hike in April is likely. But we see a change in stance to neutral is unlikely until the RBI pauses its rate hike cycle, Barua said. He said that the more-than-expected hawkish stance w

RBI rate hike on expected lines; policy focuses inflation: Bankers

The Reserve Bank's decision to hike repo rate by 25 basis points was on expected lines but the policy focuses more on inflation despite the recent moderation in the number, bankers said on Wednesday. "Repo hike of 25 basis points is on the expected lines. Evidently, the policy is focused more on managing inflation, even though the recent retail inflation readings are showing signs of moderation," industry lobby Indian Banks Association's Chairman A K Goel, who also heads state-owned Punjab National Bank, said in a statement. It can be noted that the last two readings of the headline inflation have come within the upper tolerance band of the central bank and some analysts, including in-house economists at the country's largest lender SBI were expecting a pause on rate hike. With the latest hike, the repo rate is at 6.50 per cent. SBI Chairman Dinesh Khara said the continuing strength in US job data has made monetary policy making into a delicate balancing act for emerging economies

RBI Monetary Policy: Repo rate up by 25 bps, FY23 inflation pegged at 6.5%

RBI MPC: Shaktikanta Das said that the repo rate hike of 25 bps is considered appropriate at this juncture but the monetary policy will remain agile to inflation

RBI MPC: When and where to watch policy announcement by Shaktikanta Das

RBI monetary policy: In December, Das had said that despite consecutive rate hikes, core inflation had continued to remain 'sticky'

Stocks to Watch: Bharti Airtel, Hero Moto, Adani Green, Ambuja Cement, NDTV

Stocks to Watch: Airtel reported a 91.5 per cent year-on-year rise in consolidated net profit; Adani Green Energy's consolidated net profit more than doubled to Rs 103 crore in Q3

With vote split, RBI's MPC might hike repo rate by 25 bps: Experts

Will there be a convergence or divergence among the members of the Reserve Bank of India's (RBI) Monetary Policy Committee (MPC) on the 25 basis points (bps) policy rate hike, experts debate.

SBI economists expect RBI to hit pause button on interest rate hike

Economists at SBI on Monday said they expect the Reserve Bank of India (RBI) to hit the pause button on interest rate hike at its upcoming monetary policy review this week. The central bank's Monetary Policy Committee (MPC), the six-member rate setting panel, is likely to continue with the current 'withdrawal of accommodation' stance, the SBI economists said. RBI Governor Shaktikanta Das-headed MPC started its three-day meeting on Monday and it will announce the decision on Wednesday. "Even though RBI could pause as it allows past rate actions to work with long and variable lags, the RBI could still guide the markets with a rate action in future that will be purely data dependent," the note said. Expecting headline inflation to decline closer to 5 per cent by March 2023 and further to 4.2 per cent in April, the economists said they expect a pause from the RBI at the next policy announcement and the present repo rate of 6.25 per cent will be the terminal rate. With the headline ...