RBI MPC Meet June 2022: The Reserve Bank of India with its Monetary Policy Committee has already begun its three day meeting, which will come to an end on June 8, Wednesday. On the day, RBI governor Shaktikanta Das will announce the central bank’s decisions made during the meeting of the bi-monthly Monetary Policy Committee meet “Watch out for the Monetary Policy statement of the RBI Governor @DasShaktikanta at 10:00 am on June 08, 2022,” wrote the RBI on its Twitter handle. The Reserve Bank of India is likely to hike its repo rates again, after it did the same in an off cycle MPC meet in May to tame inflation.
RBI Governor Shaktikanta Das will make the announcements on Wednesday, June 8, at 10 am IST. His speech will be streamed live on various platforms.
Here is How to Watch RBI Monetary Policy Decisions LIVE Today
YouTube: You can watch the LIVE address of RBI governor Shaktikanta Das on YouTube using the following link:
Facebook: The address will be is also likely to be streamed on Reserve Bank of India’s Facebook page.
Twitter: RBI Governor Shaktikanta Das’ address to the country is likely to be streamed on the Central Bank’s official Twitter handle @RBI.
You can follow the News18 Live Blog for the MPC meet on this space, which will be updated with latest news.
— ReserveBankOfIndia (@RBI) June 7, 2022
What to Expect from RBI MPC Meet
Experts are of the opinion that the RBI will go for another repo rate hike by 35 to 50 bps to control rising inflation. In an interview earlier in May, the central bank’s governor Shaktikanta Das had said, “The expectation of a rate hike is a no-brainer. There will be some increase in repo rates but by how much, I will not be able to tell now.”
“We expect the RBI to hike repo rate by 40 bps in the June policy meeting. However, we should be open for a rate hike between 35-50 bps hinging on how the MPC wants to reach the pre-pandemic repo rate of 5.15 per cent or around that mark by the end of the August policy. The RBI is likely to hike the CRR in one of the upcoming policies but will be contingent on how it sees the the durable liquidity panning out over the next few months,” said Suvodeep Rakshit, senior economist at Kotak Institutional Equities.
“We expect another 50 bps of CRR hike by end-FY2023. Along with the repo rate hike, the RBI will also revise its inflation estimates higher, possibly indicating inflation remaining close to 7 per cent for most part of CY2022. We expect the RBI to continue focusing on taking inflation and signaling its intent to continue raising rate and normalising liquidity, while not entirely losing its on growth given the uneven nature of growth recovery,” he added.