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The RBI's monetary policy committee (MPC) will conclude its two-day meeting today and announce its decision later this afternoon.
This will be the the Fifth Bi-monthly Monetary Policy Statement for 2016-17. And the second monetary policy announcement since Urjit Patel took over as RBI Governor on September 6th this year after Raghuram Rajan completed his term in office.
The monetary policy committee arrangement came into effect two months ago following the setting up of this committee. The committee has three internal members, including the Governor and three external members.
The committee is widely expected to recommend cutting of the repo rate (the RBI's key policy rate) by 25 basis points. The repo rate is currently at 6.25 per cent.
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