New Delhi: The results of the first Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI) in the year 2022 have been announced. RBI Governor Shaktikanta Das has not made any change in policy rates. For the 10th time in a row, RBI has not changed the policy rates in 2022.
The meeting of the Monetary Policy Committee began on 8 February. informed about the decisions taken during the meeting.
In the last meeting, RBI did not make any change in the policy rates. RBI will hold a press conference regarding this at 12 o’clock. The last meeting was held in December 2021. The central bank then retained the key policy rate repo at 4%.
At present the repo rate is 4% and the reverse repo rate is 3.35%. MPC consists of 6 members. 3 There are representatives of the government. 3 members represent the RBI, including Governor Shaktikanta Das.
The GDP growth forecast for the second quarter of the financial year 2022-23 has been reduced to 7% from 7.8%. Inflation will moderate from the second half of 2022-23. The economy is recovering from vaccination.
Real GDP growth can be 7.8% in the year 2022-23. The pace of private investment remains slow. Inflation will moderate from the fourth quarter of 2022-23.
Repo rate is the rate at which loans are given by RBI to banks. Banks give loans to customers from this loan. A lower repo rate means that many types of loans from the bank will become cheaper. Whereas reverse repo rate is just opposite to repo rate.
Reverse rate is the rate at which the RBI earns interest on deposits made by banks. Liquidity is controlled in the markets through the reverse repo rate. That is, if the repo rate is stable, it means that the loan rates from banks will also remain stable.
