RBI MPC Survey: Through the two surveys launched by RBI, the country’s central bank will get inputs for its monetary policy and take decisions on many facts including interest rates.
Reserve Bank of India Decision: The country’s central bank Reserve Bank of India has taken an important decision on Wednesday, November 1. RBI has announced that it is going to launch two new surveys through which inputs will be taken for the bi-monthly monetary policy.
Now the next meeting of the Monetary Policy Committee of the Reserve Bank of India is going to be held on 6-8 December. Under the two surveys announced by RBI, ‘Inflation Expectation Survey of Households’ and ‘Consumer Confidence Survey’ have been launched.
What is Inflation Expectations Survey of Households?
The ‘Inflation Expectations Survey of Households’ collects individual assessments on price movements and inflation based on their personal consumption basket in 19 cities including Bhopal, Bhubaneswar, Chandigarh, Chennai, Delhi and Thiruvananthapuram.
According to an RBI press release, the survey on inflation seeks responses from households on changes in prices in the three months ahead as well as one year ahead. Apart from this, it will collect quantitative response on the current as well as three months ahead and one year ahead inflation rates.
Consumer confidence survey
The ‘Consumer Confidence Survey’ seeks responses from households regarding their sentiments on general economic conditions, employment outlook, price levels, household income and expenditure. Through the two surveys launched by RBI, the country’s central bank will receive inputs for its monetary policy and take decisions on many facts including policy interest rates.
Survey will be conducted in 19 cities – RBI will get help in taking decisions
This survey is also going to be conducted in 19 cities including Ahmedabad, Bengaluru, Bhopal, Bhubaneswar, Chandigarh, Chennai and Delhi. RBI said that the results of the survey provide useful information for the monetary policy of RBI.
