Next RBI MPC meeting date 2022: Release of the Monetary Policy Statement, 2022-2023 is scheduled for the RBI MPC meeting in 2022. According to a Monetary Policy Committee (MPC) resolution from August 3-5, 2022, the MPC's next meeting will take place from today September 28-30, 2022.
The Monetary Policy Committee (MPC), which is chaired by the RBI Governor, is set to begin its three-day discussions on Wednesday. On Friday, the rate-setting panel's decision would be made public (September 30).
In order to control intractable inflation, the Reserve Bank of India (RBI) may draw lessons from its international peers, particularly the US Federal Reserve, on Friday. According to experts, the RBI, which has increased the short-term loan rate (repo) by 140 basis points (bps) since May, may again seek a rise of 50 bps to bring it to a three-year high of 5.9 percent. In May, June, and August, the central bank increased the repo rate by 50 bps each time. Currently, the rate is 5.4 percent.
Retail inflation measured by the consumer price index (CPI), which had begun to moderate since May, has once more firmed up to 7 percent in August. When drafting its bimonthly monetary policy, the RBI considers retail inflation.
India's inflation: Due to a steep increase in food costs, India's retail inflation increased to 7 percent in August from 6.71 percent the previous month, according to government figures. For the ninth month in a row, retail inflation exceeded the Reserve Bank of India's tolerance band. The RBI is on the verge of failing to reach its inflation mandate as headline inflation rose beyond 6 percent for the eighth consecutive month.
The RBI is required to maintain inflation between 2 percent and 6 percent. If the average inflation rate exceeds the 2- 6 percent range for three consecutive quarters, the RBI is regarded to have failed in its mission.