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RBI MPC LIVE Updates | RBI retains GDP growth at 7.2%, inflation projected at 6.7% for FY23 – Moneycontrol

June 08, 2022 / 10:01 AM IST

RBI MPC LIVE Updates: Watch the RBI MPC announcement by Governor Shaktikanta Das here

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June 08, 2022 / 10:22 AM IST

RBI MPC LIVE Updates: RBI Governor Shaktikanta Das
RBI Inflation forecast assumes normal monsoon and crude basket price at $105/barrel … The monetary policy accomodation withdrawal will be calibrated keeping in mind requirements of economy. Baseline inflation forecast assumes a price of $105 per barrel for the Indian crude oil basket. It also does not take into account MPC’s actions today.

June 08, 2022 / 10:22 AM IST

RBI MPC LIVE Updates: RBI Governor Shaktikanta Das
CPI inflation forecast for FY23 raised to 6.7 percent from 5.7 percent
>> For April-June revised to 7.5 percent from 6.3 percent
>> For July-September revised to 7.4 percent from 5.8 percent
>> For October-December revised to 6.2 percent from 5.4 percent
>> For January-March 2023 revised to 5.8 percent from 5.1 percent

June 08, 2022 / 10:21 AM IST

RBI MPC LIVE Updates: RBI Governor Shaktikanta Das
Survey of urban households following recent fuel excise duty cut showed “significant moderation” in inflation expectations. Urban households’ three-month-ahead inflation expectations declined by 190 basis points, while one-year-ahead inflation expectations declined by 90 basis points.

June 08, 2022 / 10:19 AM IST

RBI MPC LIVE Updates: RBI Governor Shaktikanta Das
FY23 GDP growth seen evolving broadly along April forecast. GDP growth forecast for FY23 retained at 7.2 percent; with
>> Q1 (April-June) GDP growth forecast at 16.2 percent
>> Q2 (July-September) GDP growth forecast at 6.2 percent 
>> Q3 (October-December) GDP growth forecast at 4.1 percent
>> Q4 (January-March ’23) GDP growth forecast at 4.0 percent 

June 08, 2022 / 10:14 AM IST

RBI MPC LIVE Updates: RBI Governor Shaktikanta Das
Information for April-May suggests domestic economic recovery is firm.  Urban demand is recovering, rural demand is also improving and while urban demand is recovering, rural demand is gradually improving. Surveys show capacity utilisation in manufacturing sector increased to 74.5 percent in January-March. 

June 08, 2022 / 10:11 AM IST

RBI MPC LIVE Updates: RBI Governor Shaktikanta Das
The ongoing war turning out to be a dampener on global trade and growth. Domestic economic activity is gaining traction while inflation pressures have intensified faster. Inflationary pressures have become broad based and remain largely driven by supply shocks. Repo rate remains below its pre-pandemic level. Inflation is likely to remain near upper tolerance of 6% for first three quarters of this year. Sustained high inflation could unhinge inflation expectations.

> MPC voted unanimously to raise repo rate by 50 ba”>

June 08, 2022 / 10:10 AM IST

RBI MPC LIVE Updates: RBI Governor Shaktikanta Das
>> MPC voted unanimously to raise repo rate by 50 basis points to 4.90 percent. 
>> Standing Deposit Facility and Marginal Standing Facility rates also raised by 50 basis points. Standing Deposit Facility rate now 4.65 percent, and Marginal Standing Facility rate now 5.15 percent.
>> MPC voted unanimously to remain focused on withdrawal of accommodation to ensure inflation remains within target going forward

June 08, 2022 / 10:08 AM IST

RBI MPC LIVE Updates: RBI Governor Shaktikanta Das says
Inflation has steeply increased much beyond the tolerance level. Process of recovery in emerging market economies is also getting affected. But the Indian economy has remained resilient. We have started a gradual withdrawal of the extraordinary accommodation. RBI will continue to be proactive and decisive in mitigating the fallout of geopolitical crisis on our economy. Our steps will be measured, calibrated.

June 08, 2022 / 10:05 AM IST

RBI MPC LIVE Updates: Governor Shaktikanta Das on June 8 announced that the central bank has raised key rates by by 50 bps to 4.90%. MPC vote was unanimous and has decided to keep stance withdrawal from accomodative. 

June 08, 2022 / 10:03 AM IST

RBI MPC LIVE Updates: We are facing new challenges with every passing day due to the war. War in Europe is lingering, challenges accentuating supply chains. Recovery is gaining momentun despite the pandemic and war. On the other hand inflation has become global, RBI Governor Shaktikanta Das

June 08, 2022 / 10:00 AM IST

RBI MPC LIVE Updates: Repo rate hike definitely on cards but future guidance more important, says Dhiraj Relli of HDFC Securities

imageRBI MPC LIVE Updates: Repo rate hike definitely on cards but future guidance more important, says Dhiraj Relli of HDFC Securities” title=”RBI MPC LIVE Updates: Repo rate hike definitely on cards but future guidance more important, says Dhiraj Relli of HDFC Securities“>

RBI is likely to follow a nuanced and calibrated approach to rate hikes once its pre-Covid neutral accommodation of 5.15 percent is reached. We expect 40bps rate hike in the upcoming policy meet and…