RBI changes release time of monetary policy statement; check new schedule

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Published: February 6, 2019 6:09:48 PM

In a departure from the norm held for over two years, RBI Monetary Policy Committee (MPC) will release its sixth bi-monthly policy statement on February 7 at 11:45 am instead of 2:30 pm.

RBI, Axis Bank, UCO Bank, Syndicate Bank, RBI penalties, Reserve Bank of India, violation of norms, banking newsThe policy holds interest since it’s the last of the fiscal and also the first under Das, who took charge in December 2018 following the sudden exit of Urjit Patel. (Reuters)

In a departure from the norm held for over two years, RBI Monetary Policy Committee (MPC) will release its sixth bi-monthly policy statement on February 7 at 11:45 am instead of 2:30 pm. However, the central bank didn’t give a reason for the same.

“The Monetary Policy Committee (MPC) will meet during February 5 to 7, 2019 for the Sixth Bi-monthly Monetary Policy Statement for 2018-19. The resolution of the MPC will be placed on the website at 11.45 AM on February 7, 2019,” RBI said in a statement.

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The policy holds interest since it’s the last of the fiscal and also the first under Das, who took charge in December 2018 following the sudden exit of Urjit Patel.

CARE Ratings on MPC

The Central Bank may change its stance to neutral from calibrated tightening, CARE Ratings.

“The RBI is likely to alter its monetary policy stance from “calibrated tightening” to “neutral” with inflation being lower than its target for 5 consecutive months but will maintain status quo in the repo rate given the core inflation being sticky at 5% and likelihood of build-up in inflation in the coming months…,” it added.

The rating agency also said in a report that the inflation may rise as we move ahead in view of budgetary announcements including income support schemes, interest subvention and tax exemptions. It also said that food inflation may also come under pressure on account of rise in minimum support price (MSP).

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