The Reserve Bank of India (RBI) on Monday abruptly postponed a meeting of its monetary policy committee (MPC) scheduled to begin Tuesday, puzzling a market waiting for its views on growth and inflation.



“The meeting of the MPC during September 29, 30 and October 1 ...is being rescheduled. The dates of the MPC’s meeting will be announced shortly," an RBI statement said, without ascribing any reason for the postponement. The rescheduling comes at a time the strength of the six-member MPC is down to half, after the four-year tenure of three external members ended in August.

“Till Sunday, RBI was expecting an announcement from government and was scheduled to hold the MPC meeting," a person aware of the matter said seeking anonymity.

While no one was anticipating a surprise, there were expectations it would offer inflation and growth projections. “Such a postponement doesn’t send a good signal to the market," said A. Prasanna, chief economist, ICICI Securities Primary Dealership, adding that it would have been a good occasion for RBI to give clarity on liquidity and open market operations.