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  • Reserve Bank to announce its second bi-monthly Monetary Policy of 2018-19 today

    Published on June 6, 2018

    The Reserve Bank of India (RBI) will announce its second bi-monthly Monetary Policy of 2018-19 in a short while from now. The Monetary Policy Committee, headed by RBI Governor Urjit Patel, held a three-day meeting in Mumbai.

     

    The Markets opened higher with the BSE Sensex rebounding over 69 points in the opening trade today, breaking its three-day losing run, ahead of the RBI’s bi-monthly policy announcement.

     

    The NSE Nifty also went up by 22.65. By Midday, the BSE Sensex gained 190 points and reached 35,093.52 while the Nifty 60 points to reach 10,652.75. Experts believe the RBI is likely to announce an interest rate hike due to rising crude prices and higher inflation.

     

    The last rate hike was announced in January 2014 when the short-term lending rate or repo rate was increased to 8 percent. Since then, RBI has either reduced the rate or maintained status quo. The current repo rate stands at 6 percent.

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