ENA Economy 2024-08-05 15:11:14 <p><span style="font-size:14px"><strong>New Delhi, Aug 5 (KNN)</strong> The Reserve Bank of India's (RBI) Monetary Policy Committee (MPC) is scheduled to commence its three-day deliberations on Tuesday, August 6, to formulate the central bank's latest monetary policy stance. This marks the third such review for the financial year 2024-25 (FY25).</span></p> <p><span style="font-size:14px">RBI Governor Shaktikanta Das, who chairs the six-member MPC, will announce the committee's decision on Thursday, August 8.</span></p> <p><span style="font-size:14px">The forthcoming policy review holds particular significance as it follows eight consecutive sessions where the repo rate has remained steady at 6.5 percent since February 2023.</span></p> <p><span style="font-size:14px">Established in 2016, the MPC convenes at least quarterly to deliberate on key monetary policies, with the dual mandate of maintaining price stability while fostering economic growth.</span></p> <p><span style="font-size:14px">The current inflation target set by the government stands at 4 percent, with a flexibility range of 2 to 6 percent.</span></p> <p><span style="font-size:14px">Recent economic indicators have heightened the focus on this policy review. June saw India's retail inflation, as measured by the Consumer Price Index, reach a four-month high of 5.08 percent. Notably, food inflation surged to 9.36 percent during the same period.</span></p> <p><span style="font-size:14px"><em><strong>(KNN Bureau)</strong></em></span></p> 38860 https://knnindia.co.in/news/newsdetails/economy/rbi-monetary-policy-committee-to-convene-for-third-fy25-review 2024-08-05 15:11:14 knnindia.co.in