RBI MPC October 2024 on Wednesday: When and how to watch Shaktikanta Das’s address LIVE

RBI MPC October 2024: The Reserve Bank of India’s Monetary Policy Committee began its three-day discussions on Monday, October 8, with expectations suggesting that the central bank is likely to keep policy interest rates at 6.5 percent, taking into account the current domestic growth and inflation momentum with strong GDP growth and higher near-term inflation forecast.

Led by RBI Governor Shaktikanta Das, the six-member Monetary Policy Committee (MPC) will meet for three days and the decision will be announced on Wednesday, October 9, at 10 am.

RBI MPC announcement timing

The RBI Governor will present the latest monetary policy statement including the decision on key policy rates like repo rate, reverse repo rate etc. on Wednesday, October 9 at 10 am. He is expected to address both the current national as well as global situation speaks economic situation.

After announcing the policy, the RBI Governor will also hold a press conference on Wednesday at 12 noon. The press conference can be viewed here.

This way you can follow the RBI’s monetary policy decisions LIVE

YouTube: You can watch the RBI Governor’s LIVE address on YouTube via the link provided below.

https://www.youtube.com/@reservebankofindia593/videos

Facebook: The address will be streamed simultaneously on the Reserve Bank of India’s Facebook page.

Twitter: RBI Governor Shaktikanta Das’s address to the country will also be streamed on the central bank’s official Twitter account @RBI.

After the MPC meeting in August 2023, the RBI maintained its pause in the rate hike cycle and stuck with the repo rate of 6.5% from April 2023.

The central bank had previously raised the repo rate by 250 basis points cumulatively since May 2022 to curb inflation.

The government has directed the RBI to ensure CPI inflation of 4% with a margin of 2% on both sides.

The RBI Monetary Policy Committee was recently reconstituted with three newly appointed external members.

It is generally expected that the MPC will keep the interest rate unchanged despite a change in the composition of the external members. This would be the 10th consecutive time that the Reserve Bank of India (RBI) has maintained its status quo on the policy rate. The MPC last revised the interest rate in February 2023, when it was increased to 6.5 percent.

Besides the Chairman (RBI Governor Shaktikanta Das), the other internal members are RBI Deputy Governor in charge of Monetary Policy, Michael Debabrata Patra and Executive Director of RBI Monetary Policy Department, Rajiv Ranjan.

On October 1, the government appointed Ram Singh (Director of the prestigious Delhi School of Economics), Saugata Bhattacharya (Chief Economist and Executive Vice President of Axis Bank) and Nagesh Kumar (Director and Chief Executive of the Institute for Studies in Industrial). Development) as external members of the MPC.