RBI MPC Meet: RBI to unveil monetary policy today; All you need to know

New Delhi: The Reserve Bank of India is scheduled to hold a news conference on Friday, April 8, to discuss the decisions made during its Monetary Policy Committee (MPC) meeting, which began on April 6 and will end today. The meeting will begin at 10 a.m. ET on the day of the meeting, with RBI Governor Shaktikanta Das announcing the central bank's choices on revised economic predictions and interest rate trajectory.

As per the Reuters poll, the RBI will only raise interest rates at the MPC meeting in August.

The six-member rate-setting council convenes at a critical moment when inflation rates have soared due to tensions between Russia and Ukraine, which has led to a spike in fuel prices, among other things. Markets have also been extremely turbulent recently. Essential commodity prices have also risen dramatically, prompting the RBI Monetary Policy Committee (MPC) to focus on inflation rather than growth this time.

The Reserve Bank of India has tweeted outlining where and how to watch the RBI MPC meeting in real time. "Watch out for the RBI Governor @DasShaktikanta's Monetary Policy Statement at 10:00AM on April 08, 2022," the tweet added.

The meeting can be watched on YouTube, Facebook and Twitter.

Following the announcement of the judgments at 12 p.m., Reserve Bank of India governor Shaktikanta Das will hold a press conference. On YouTube, it can be seen live at https://youtu.be/nA9YhLwV9RA.

The world's economy, as well as India's, has changed dramatically since the MPC's last meeting in February, with the Russia-Ukraine war being one of the key reasons. It will be interesting to see how Shaktikanta Das responds to the situation during the RBI MPC meeting.