RBI Monetary Policy October 2023: Will RBI Keep Interest Rate Paused For 4th Time? Know What Experts Say

RBI Monetary Policy October 2023: The three-day MPC meeting Chaired by RBI Governor Shaktikanta Das, commenced on October 4 and is set to conclude today.

New Delhi: The Reserve Bank of India (RBI) is all set to announce the outcome of the Monetary Policy Committee (MPC) decision on Friday amidst market speculations that the central bank might go for another interest pause this time too. This will be the fourth bi-monthly monetary policy of the RBI for the ongoing fiscal.

The three-day MPC meeting Chaired by RBI Governor Shaktikanta Das, commenced on October 4 and is set to conclude today.

In its last Monetary Policy on August 10, the RBI kept the repo rates unchanged at 6.5 percent. The Monetary Policy Committee (MPC) of the central bank unanimously decided to take a consecutive pause in its second bi-monthly monetary policy meeting of FY24 after a rate hike seen in previous six consecutive policies. This was for the third consecutive time that the RBI has paused the interest rates. In its last bi-monthly policy, RBI had maintained a status quo in its repo rate at 6.5 percent.

A year is divided into six bimonthly reviews of the central bank's monetary policy. Additionally, there are out-of-cycle reviews, where the central bank holds extra sessions in urgent situations.