Highlights

  • At present, the policy repo rate is at 4.90%
  • RBI meeting will be announced on Aug 5

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RBI monetary policy preview : What to expect from rates

RBI monetary policy preview : Highly likely the six-member panel will go for another interest rate hike to curb rising inflation

RBI monetary policy preview: The Reserve Bank of India's Monetary Policy Committee will announce its decision on rates at 10 am on August 5 and the street is betting yet again on hike in rates. The bets vary from 25-50 bps as Governor Shaktikanta Das continues to attempt slaying the impact of imported inflation.

Here are the factors at play on the MPC's agenda:

  • As US Fed has made another aggressive rate hike by 75 basis points in the latest policy to tame inflation.
  • The pace of hikes by the Fed is the fastest in 40 years last seen in the era of Paul Volcker
  • Currently, inflation is at 7.01% in June and has been above RBI's comfort zone of 6% for the sixth-consecutive month.
  • Reserve Bank of India’s six-member monetary policy committee will now likley increase the repurchase rate by 50 basis points to 5.40%, a level last seen in August 2019.
  • Commentary on currency also remains critical as the rupee languishes at record low and India's trade deficit also hitting record high.

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