RBI Monetary Policy October 2024: The reconstituted rate-setting committee of the Reserve Bank of India (RBI) on Monday began deliberations on the next bi-monthly monetary policy. This meeting is taking place at a time when the status quo on interest rates is expected given inflation concerns and the possibility of the West Asia crisis resurfacing. Know ahead what the experts predict.

Many foreign banks reduced rates

Experts believe that RBI may not follow the US Federal Reserve, which has recently reduced interest rates by half a percent. Apart from this, central banks of some other developed countries have also reduced interest rates.

When will the policy be announced?

Earlier this month, the government reconstituted the Monetary Policy Committee (MPC). RBI Governor and MPC Chairman Shaktikanta Das will announce the results of the three-day discussion on Wednesday (October 9).

What is the repo rate now?

Kaushik Das, Deutsche Bank's chief economist for India and South Asia, said, "We think the RBI will not change the policy repo rate (currently 6.50 percent) in the upcoming October monetary policy meeting." DBS Bank executive director and senior economist Radhika Rao hoped that the central bank's stance would soften in the December review.