RBI to announce its bi-monthly monetary policy review for 2017-18 today

The Reserve Bank of India (RBI) will announce its fifth bi-monthly monetary policy review for the year 2017-18 today. The Monetary Policy Committee (MPC), headed by RBI Governor Urjit Patel, began its two-day deliberations yesterday, with several experts saying that the central bank is unlikely to lower the key interest rate and will stay focused on



controlling inflation.

In its October review, the MPC had kept the benchmark interest rate unchanged, and lowered the growth forecast to 6.7 per cent for the current fiscal.The RBI had reduced the benchmark lending rate by 0.25 percentage points to 6 per cent in August, bringing it to a 6-year low.