Next RBI MPC meeting date: Interest rate-deciding panel to meet on these dates; check out April 2023 schedule

Next RBI MPC Meeting Date: RBI Governor Shaktikanta Das-led Monetary Policy Committee (MPC) — the central bank's all-powerful panel that decides benchmark interest rates in the country — is set to meet early next month. This will be the MPC's second bi-monthly review of 2023, and first of the financial year beginning April 2023. 

When will the RBI MPC meet in April 2023?

 According to the RBI website, rbi.org.in, the MPC will meet for three days, from April 3 to April 6, to review its monetary policy. 

The bi-monthly review of the RBI's monetary policy comes at a time when consumer inflation has stayed beyond the central bank's comfort zone.

Major central banks like the RBI and the Fed have a Herculean task at hand: tame red-hot inflation without damaging economic growth. 

What did RBI do in February 2023 policy review?

The RBI announced a hike of 25 basis points in the repo rate — the key interest rate at which it lends money to commercial banks — at the end of its February 2023 review. That was its sixth straight increase in the current cycle of rising interest rates. 

The RBI's policy action was in line with economists' expectations. Read more on RBI February MPC review

RBI to meet six times in 2023-23: Important policy review dates

The RBI reviews its monetary policy in six bi-monthly reviews, which translates to six reviews a year. For the year ending March 2024, the RBI will meet six times. Here's a look at the schedule for the six reviews, as listed on the RBI website: 

• April 3, 5, 6, 2023
• June 6-8, 2023
• August 8-10, 2023
• October 4-6, 2023
• December 6-8, 2023
• February 6-8, 2024

The RBI tracks consumer inflation data primarily for formulating its monetary policy. In April 2022, the RBI brought back its focus back to inflation from growth — a switch it had made to protect the economy in the depths of the pandemic. 

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