RBI LAUNCHES TWO KEY SURVEYS FOR MONETARY POLICY INPUTS

The Reserve Bank of India (RBI) made a significant announcement on Monday regarding the launch of two new surveys: the 'Inflation Expectations Survey of Households' and the 'Consumer Confidence Survey'. These surveys are designed to provide crucial insights and inputs for shaping the monetary policy decisions of the RBI, particularly ahead of the upcoming bi-monthly monetary policy review scheduled for June 5-7, 2024. The 'Inflation Expectations Survey of Households' is specifically aimed at gauging the subjective assessments of households regarding price movements and inflation. It seeks to capture individuals' perceptions of inflation based on their personal consumption patterns. This survey will cover a diverse range of 19 cities across India, including prominent urban centers such as Guwahati, Hyderabad, Jaipur, Kolkata, Lucknow, and Thiruvananthapuram.

By collecting data from households in various cities, the RBI intends to obtain a comprehensive understanding of inflation expectations at the grassroots level, which can then inform its policy decisions. This initiative underscores the central bank's commitment to incorporating diverse perspectives and empirical data in its monetary policy formulation process, thereby enhancing the effectiveness and responsiveness of its policy measures.

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