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ShreeMetalPrices: The RBI’s Monetary Policy Committee will Deliberate on November 3 due to Concerns over Inflation.

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The Monetary Policy Committee (MPC) of the Reserve Bank of India will deliberate outside of its regular schedule on November 3rd, the RBI’s stated on Thursday. (Read More)

The central bank has been unable to control inflation. Which has exceeded its tolerance level of 2 to 6 % for past 9 months, prompting the need for MPC’s off-cycle meet.

Retail inflation measured by the Consumer Price Index (CPI) increased to 7.41% in September. For the past three quarters, retail inflation has continued to exceed the RBI’s tolerance level.

Prior to this meeting in May of this year that was also a off-cycle meet. Inflation worries had compelled the RBI’s rate-setting council to raise the repo rate.

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