MPC meetings usually take place after a gap of two months, although the next MPC meeting, which could ideally be scheduled in October to maintain a gap of two months, may come sooner. next meeting of Monetary Policy Committee meeting The next month is scheduled to be held from September 28-30, 2022. So while you need to keep an eye on the possibility of further hike in the repo rate, which could lead to another hike in fixed deposit rates and loan interest rates, The meeting held to review the monetary policy of the Reserve Bank of India is generally bi-monthly (2 months gap). Emergency meetings can also be scheduled and done as per the requirement.
However, the meeting to be held in September is as per the schedule originally announced at the beginning of the current financial year. The meeting in September is likely to be carried forward from October as October 1 and October 2 are Saturday and Sunday respectively and October 5 is the festival of Dussehra, which has made the deliberations of the 3-day meeting difficult.
Today’s meeting was scheduled to take place during August 2 – 4, 2022, however it was extended to August 5. There have been some instances in the past also when the scheduled meeting was held at an interval of less than 2 months.
The scheduled dates for the monetary policy meeting in 2020 were during August 4 to 6, 2020, September 29-30 and October 1, 2020
Actual Dates – Monetary Policy Statement, 2020-21 Resolution of the Monetary Policy Committee (MPC) October 7-9, 2020
In the monetary policy statement issued after today’s meeting, RBI said:
,
The Monetary Policy Committee (MPC) in its meeting today (August 5, 2022) decided on the basis of an assessment of the current and evolving macroeconomic situation:
• Increase the policy repo rate under the Liquidity Adjustment Facility (LAF) by 50 basis points to 5.40 per cent with immediate effect.
Consequently, the Permanent Deposit Facility (SDF) rate stands adjusted to 5.15 per cent and the Marginal Standing Facility (MSF) rate and the Bank Rate to 5.65 per cent.
• The MPC also decided to focus on the return of housing to ensure that inflation remains within the target while supporting growth going forward.
These decisions are in line with the objective of achieving the medium-term target for Consumer Price Index (CPI) inflation of 4 per cent within a band of +/- 2 per cent, while supporting growth.”