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RBI Monetary Policy Review - October 2024

Repo Rate unchanged at 6.50 per cent
11 October 2024
    Local Market Commentary

    RBI Monetary Policy Review - October 2024


    The MPC changed the much-awaited monetary policy stance to neutral, paving the way for commencement of a rate easing cycle in India. The MPC noted that currently the macroeconomic parameters of inflation and growth are well balanced, headline inflation is on a downward trajectory and food inflation pressures are expected to see some easing later in the financial year. Domestic growth continues to remain resilient, but downside risks from geopolitical tensions and financial market volatility will remain a key monitorable. With risks of global slowdown having escalated and with the Fed commencing its rate easing cycle by 50 bps, we continue to believe that the RBI is unlikely to remain immune from rate actions by global Central Banks, thereby implying that the possibility of rate easing by 75-100 bps in India has meaningfully increased.

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