On Wednesday, November 1, the Reserve Bank of India (RBI) made a significant announcement. The RBI has declared that it is planning to launch two new surveys to gather inputs for the bi-monthly monetary policy. The next meeting of the RBI’s Monetary Policy Committee is scheduled for December 6-8, and these surveys play a vital role in shaping the country’s monetary policy.
Family Inflation Expectations Survey
The “Family Inflation Expectations Survey” is an initiative by the RBI to gather data from 19 cities, including Bhopal, Bhubaneswar, Chandigarh, Chennai, Delhi, and Thiruvananthapuram. It will focus on price movements in individual consumption baskets, and individual assessments of inflation three months ahead and a year ahead. The RBI aims to understand how families respond to changes in prices, both in the short term and the longer term. This data will be crucial in shaping inflation-related decisions.
Consumer Confidence Survey
The “Consumer Confidence Survey” seeks to gauge the general economic situation, employment outlook, price levels, and the financial position of households. The RBI will reach out to families to understand their perceptions and feelings regarding the economic scenario, job prospects, price levels, and the financial conditions of households. The information gathered from these two surveys will provide essential inputs for the RBI’s monetary policy, including decisions related to interest rates and various economic indicators.
These surveys will be conducted in 19 cities, including Ahmedabad, Bengaluru, Bhopal, Bhubaneswar, Chandigarh, Chennai, and Delhi. The RBI believes that the results of these surveys will provide valuable insights into its monetary policy.