Chinmaya IAS Academy – Current Affairs Chinmaya IAS Academy – Current Affairs
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Slowing inflation is likely to prompt the monetary policy committee (MPC) of the Reserve Bank of India (RBI) to hold the key policy rate or the repo rate in the fifth bimonthly monetary policy review of 2018-19 scheduled for Wednesday.The retail inflation rate — the yardstick used by the RBI for monetary policy purposes — slowed in October to 3.3%, the slowest pace in 13 months. Consumer price index-based inflation or retail inflation remained below the 4% target of the RBI for the third straight month. Inflation is likely to decline further as crude oil prices dropped below $60 a barrel in November.“The MPC, in its meeting, due on December 3-5 will likely keep repo rate unchanged,” economists at Kotak Securities said in a report. In the October policy, the repo rate was kept unchanged at 6.5%.
