RBI Says 29 Sept MPC Meet Rescheduled; Dates To Be Notified

On Monday, the Reserve Bank of India (RBI) said the Monetary Policy Committee meeting scheduled for 29 September to 1 October will be rescheduled. No reason was provided for the rescheduling.

"The meeting of the Monetary Policy Committee (MPC) during September 29, 30 and October 1, 2020 as announced vide Press Release 2019-2020/2248 dated April 20, 2020 is being rescheduled," RBI said in a release.

"The dates of the MPC's meeting will be announced shortly," it added.

Polls of economists ahead of the meet showed that these experts expect RBI to hold repo rate in the next MPC meeting.

A Reuters poll of 66 economists showed expectations of the central bank holding rates until early 2021 in maintaining a delicate balance between curbing high inflation and lifting the economy from its worst contraction on record.

So far this year, RBI has cut reverse repo by 155 basis points (bps) to 3.35 percent and repo by 115 bps to 4 percent.