The Reserve Bank of India’s (RBI) Monetary Policy Committee (MPC), which has set key policy rates, began a three-day meeting on Wednesday to finalize its monetary policy review, which will be held every two months. Experts believe that the central bank may choose to default on interest rates amid inflationary pressures. Reserve Bank Governor Shaktikanta Das will release the proposals of the Monetary Policy Committee (MPC) on Friday.

The six-member MPC, headed by the RBI governor, consists of three external members. Experts believe that the central bank’s focus on managing inflation and boosting economic growth will wait some time before the RBI makes any major decision.

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The central bank kept the prime interest rate at 4 percent at its June policy meeting. This is the sixth consecutive time the MPC has regained interest rates. M Govind Rao, chief financial adviser to Brickwork Ratings, said the MPC had kept key policy rates unchanged from May 2020. “We expect the RBI to support the recent revival by keeping the MPC repo rate at 4 per cent,” he said. We hope that the central bank will be alert and emphasize the need to closely monitor the situation.

“We expect the RBI to maintain its monetary policy,” said Vikas Wadhawan, Group CFO, Housing.com, Macon.com and PropTiger.com.

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