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RBI Monetary Policy 2022 Dates 6 to 8 June 2022 RBI MPC Meet – Newshubweek

RBI Monetary Policy 2022 Dates 6 to 8 June 2022 RBI MPC Meet
– Newshubweek
Written by Arindam

RBI Monetary Policy: The Reserve Bank of India will hold its upcoming Monetary Review Policy (MPC Meeting) meeting on Wednesday. At this time, there is a steady increase in inflation. It is expected that the government may increase the policy rates in the next meeting. Giving this estimate, the expert said that Governor Shaktikanta Das has already indicated this.

There may be an increase of 0.35 percent
The central bank had hiked the repo rate by 0.40 per cent in the meeting of the Monetary Policy Committee (MPC) held without a schedule last month. There is speculation that rates may go up by at least 0.35 per cent further in this review. Experts are predicting a further increase in the repo rate in the coming months.

meeting will start on monday
The three-day meeting of the MPC headed by Governor Das will start from Monday. The Governor will announce the decisions taken during the meeting on Wednesday.

Inflation remains in 2 digits
Retail inflation rose for the seventh consecutive month in April to an eight-year high of 7.79 per cent. The main reason for this is the rise in commodity prices, including fuel, due to the Ukraine-Russia war. Inflation based on wholesale prices has remained in double digits for 13 months and touched a record high of 15.08 per cent in April.

Repo rate will increase
Das said in a recent TV interview, “There will be some hike in repo rates, but right now I will not be able to tell how much it will be.” Madan Sabnavis, Chief Economist of Bank of Baroda said on the MPC meeting that this review will be done. The central bank’s views on growth and inflation are significant. “There will be an increase in the repo rate, but it will not exceed 0.25-0.35 per cent, as it was indicated in the remarks of the meeting held in May that the MPC was not in favor of a large hike in the repo rate,” he said. ‘

Duty cut on petrol and diesel
The government has taken several steps to control inflation, including reduction in duty on petrol and diesel, reduction in import duty on some edible oils and ban on export of wheat. BofA Securities said in a report that it expects the RBI to increase the repo rate by 0.40 per cent in June and 0.35 per cent in August.

Know what is the opinion of experts?
Dhruv Aggarwal, Group Chief Executive Officer (CEO) of Housing.com, PropTiger.com and Makaan.com said that the Reserve Bank is likely to increase the repo rate once again to control inflation. He also added that the rate hike should be gradual, as it may affect the growth of the real estate sector.

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Arindam

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