RBI MPC 03.06 to 05.06 - vote for increase
RBI MPC second meeting of FY 26-27 Will it recognize the market trends ? The second bi-monthly review meeting of the Monetary Policy Committee (MPC) of Reserve Bank of India (RBI) for the current financial year (FY 26-27) started today . Before looking at the current position/movement of the various economic factors that form part of MPC discussion, I intend to present the following important events in the last one month that might have a long term impact on the Indian economy. 1. On 10th May 2026, the Prime Minister appealed to the Indian citizens to minimize the use of fuel, cooking oil, purchase of gold and use public transport instead of private vehicles. Reason - the uncertainty on oil price, rupee's struggle to find its value versus USD and the unabated foreign currency outflows. 2. Following PM's appeal, the import duty on gold/silver was hiked by the Central Government to 15% with immediate effect. 3. Close on its heels, RBI Governor stated that (on 13th...