RBI May Keep Rates Unchanged, Raise GDP Forecast: Poll

MPC may lift its FY24 growth forecast from 6.5% to 6.7-6.8%, after the economy grew 7.6% in Q2 against the 6.5% estimate

- Gopika Gopakumar

The Reserve Bank of India’s monetary policy committee (MPC) is likely to maintain status quo on policy rates for the fifth consecutive time, 10 economists polled by Mint said, amid persistent inflation risks.

They also expect the committee to nudge up its GDP growth forecast for FY24, from 6.5% to 6.7-6.8%, following higher-than-expected growth in the September quarter (7.6% year-on-year).

A majority of the economists polled expect the rate-setting panel to keep the repo rate unchanged at 6.5%. As for its inflation forecast, they expect the committee to maintain it at 5.4% for the current financial year, although it could sound hawkish due to recurring supply-side shocks.

The committee is scheduled to meet for three days beginning 6 December.