New Delhi, Apr 2 (KNN) The Monetary Policy Committee (MPC) will meet on April 4 and 5, 2018 for the First Bi-monthly Monetary Policy Statement for 2018-19.

The six-member Monetary Policy Committee (MPC), headed by RBI governor Urjit Patel will review the monetary policy to reach the roadmap of fiscal consolidation.

The RBI is likely to keep interest rates unchanged in its first bi-monthly monetary policy review for 2018-19 as rising global crude oil prices continue to pose a risk to domestic inflation.

This would also be the first monetary policy announcement after the Budget.

Industry chambers are of the view that the central bank would opt for status quo as the government’s budget announcement to provide farmers 1.5-times of minimum support price (MSP) for their produce may jack up inflation.

The Patel-headed MPC has two other representatives from RBI — Deputy Governor Viral Acharya and Executive Director Michael Debabrata Patra.

The three external members are Chetan Ghate, Pami Dua and Ravindra Dholakia. (KNN/YV)