The Monetary Policy Committee (MPC) of RBI
began its three-day deliberation on Wednesday
here amid expectations that the central bank will
maintain status quo on the benchmark lending
rates in view of high retail inflation. The RBI will
announce its monetary policy review on
December 4.
After its last MPC meeting in October, RBI kept
policy rates unchanged to help tame inflation that
in the recent times has surged past 6 per cent
mark. RBI projected the country's GDP to contract
9.5 per cent in the current financial year due to
the pandemic. It has cut policy rates by 1 15 basis
points since February.
Experts opined that RBI may not slash policy rate
in the wake of rising Consume Price Index (CPI)-
based inflation driven mainly by supply side issues