RBI to announce monetary policy on 9th Oct

The next meeting of Reserve Bank of India's (RBI's) Monetary Policy Committee (MPC) will be held from October 7 to 9, the central bank said on Tuesday.

It was earlier scheduled from September 29 to October 1 to decide on key interest rates in the backdrop of economic slowdown due to COVID-19 crisis.

However, the MPC meeting could not be held as the tenure of three previous government appointees had ended.

Late on Monday, the government named Shashanka Bhide, Ashima Goyal and Jayanth Varma as its nominees on the RBI's MPC.

The new members have been appointed for a four-year term.

Several experts say the RBI is expected to keep key interest rates on hold until early next year to maintain a delicate balancing act between curbing high inflation and lifting the economy from its worst recession in decades.

-ANI

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