New-look RBI MPC set to take rate decision amid global banks cuts
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RBI Governor Shaktikanta Das has opposed changes in both interest rates and policy, citing erratic food inflation and slow progress in disinflation on the last mile
The Reserve Bank of India’s (RBI) Monetary Policy Committee (MPC) meets every two months, but the October meeting is significant for several reasons. Not only because it comes against the backdrop of interest rate cuts by leading global central banks, but also because the panel will have three new faces.
The MPC consists of six members, three of whom are from the central bank: the Governor, the Deputy Governor in charge of monetary policy and an official appointed by the Central Supervisory Board.
The three external members are appointed by the central