RBI Monetary Policy Committee Meeting: Date, time, how to watch live streaming of new RBI Governor Sanjay Malhotra’s first MPC – The Times of India
RBI MPC meet date, time: Reserve Bank of India’s Monetary Policy Committee (MPC) meeting is being keenly watched this week for a possible repo rate cut of 25 basis points. This is the first MPC meet of the newly appointed RBI Governor Sanjay Malhotra.
RBI’s monetary policy comes within days of the Union Budget 2025 speech by Finance Minister Nirmala Sitharaman. While Budget 2025 chose to provide a consumption push to the economy with a change in income tax slabs, all eyes are now on the central bank to provide stimulus to GDP growth.
India’s GDP growth for the second quarter of FY 2024-25 slowed to a two year low of 5.4%. Economists and experts are of the view that with inflation largely under check, it’s time for the RBI to look at spurring GDP growth with a repo rate cut.
RBI Monetary Policy Meeting: Date, Time
- RBI’s
Monetary Policy Committee meeting began on February 5, 2025. RBI governor Sanjay Malhotra will announce the decision of the two day MPC meet on February 7, 2025 at 10:00 AM. - The new RBI governor’s commentary will also be looked at for cues on the central bank’s stance, its GDP growth outlook and CPI inflation forecasts.
RBI Monetary Policy Meeting: When & Where To Watch
RBI governor Sanjay Malhotra’s first RBI MPC statement will go live on RBI’s Youtube channel from 10:00 AM onwards on February 7, 2025. You can watch Sanjay Malhotra’s statement to the media LIVE on the RBI Youtube channel. For a detailed analysis on what the RBI MPC meet means for the economy, and loan borrowers, you can track TOI’s Live blog as well.
RBI Monetary Policy Meeting: What To Expect
Following the Union Budget, the RBI commenced discussions on monetary policy on Wednesday, with anticipations of a 25 basis-points rate reduction, the first in five years.
- If RBI cuts the repo rate by 25 basis points, it would be the first rate reduction in five years. Despite concerns over the weakening rupee, inflation remains within acceptable limits. The RBI’s last repo rate reduction of 40 basis points to 4 per cent occurred in May 2020, which aimed at addressing economic challenges during the Covid pandemic and lockdown.
- The RBI MPC started repo rate hiked in May 2022 due to the Russia-Ukraine conflict, pausing only in May 2023.
- Experts suggest that conditions favour a repo rate reduction, which would support the Union Budget 2025 initiatives for consumption-driven growth.
An SBI analysis indicates retail inflation based on consumer price index (CPI) is likely to decrease to 4.5 per cent in the fourth quarter, averaging 4.8 per cent this financial year.
Considering fiscal stimulus and trade war implications, the RBI must carefully manage risks. The fiscal measures provide space for near-term rate reductions.
“We expect a 25-basis point rate cut in February 2025 policy. Cumulative rate cut over the cycle could be at least 75 basis points, with 2 successive rate cuts over February and April 2025. With an intervening gap in June 2025, the second round of rate cuts could start from October 2025,” said the SBI Economic Department’s research report.
