The Reserve Bank of India’s (RBI’s) six-member Monetary Policy Committee (MPC) is expected to maintain the status quo at its October meeting, scheduled for September 29-October 1, according to a Business Standard poll of 10 economists at banks and other financial institutions.
The domestic rate-setting panel kept the repo rate unchanged in August, following a 50-basis-point (bp) cut in June. Earlier, the panel had reduced the rate by 25 bps each in February and April after holding it steady for 11 consecutive meetings. This came on the back of a cumulative 250-bp increase between May 2022 and February 2023.
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