As a preparatory to announcing its third bi-monthly policy review of 2017-18, the Reserve Bank of India's six member Monetary Policy Committee (MPC) headed by RBI Governor Urjit Patel began its two-day meeting in Mumbai today.<br/><br/>The meeting's outcome to be announced tomorrow is being keenly awaited by all stakeholders including industry and stock markets. <br/><br/>The panel, in its previous bi-monthly review in June, had retained the repo rate at 6.25 per cent for the fourth straight time citing risk to inflation.

As a preparatory to announcing its third bi-monthly policy review of 2017-18 fiscal in a context of rising inflation, the Reserve Bank of India's six member Monetary Policy Committee (MPC) headed by RBI Governor Urjit Patel began its two-day meeting in Mumbai today.<br/><br/>The meeting's outcome announced tomorrow is being keenly awaited by all stakeholders including industry and stock markets. Encouraged by significant price improvement, bankers expect Reserve Bank of India to change its monetary stance and cut benchmark lending rate by at least 0.25 per cent.<br/><br/>Some expect that the central bank may go for an even more aggressive rate cut as the retail inflation touched historic low of 1.54 per cent in June.<br/><br/>The panel, in its previous bi-monthly review in June, had retained the repo rate at 6.25 per cent for the fourth straight time citing risk to inflation.<br/><br/>The resolution of the MPC will be placed on the website at 2.30 pm tomorrow.