When the Reserve Bank of India’s (RBI) monetary policy committee (MPC) last met in October, crude oil prices were over $85 per barrel and the rupee was nearing 75/$. The rupee is now nearly 6 percent off its low, and is expected to rally further as lower crude prices have also eased worries over India's current account deficit. Last time, it the MPC had decided to hold fire.

The Reserve Bank of India (RBI) may support an economy that is losing momentum by leaving interest rates unchanged at the monetary policy committee (MPC) meeting on Wednesday, when just over a month ago most of them had predicted a hike.

Since embarking on a tightening cycle in June, the RBI has raised its policy repo rate by 50 basis points, with the last increase to 6.50 percent made in August.

One basis point is a hundredth of a percentage point.

CNBC-TV18 in partnership with the EGROW Foundation brings you the Shadow Monetary Policy Committee.

Arvind Virmani, former chief economic advisor; Surjit Bhalla, economist and author; RK Dubey and Kishore Sansi, former bankers; and Charan Singh, chief executive, EGROW Foundation; on what will be the outcome of MPC meeting.

With inputs from Reuters.

First Published:Dec 4, 2018 8:30 PM IST