It is set to be a busy Friday, with several crucial domestic and international events lined up for 7 June.
The Reserve Bank of India’s (RBI) Monetary Policy Committee (MPC) will announce the result of its three-day meeting. The newly elected MPs of the National Democratic Alliance (NDA) led by the Bharatiya Janata Party (BJP) will meet in Delhi.
US President Joe Biden will be in France to deliver a speech on democracy and freedom at Pointe Du Hoc, with intense electoral undertones. Nvidia shares are likely to see activity as the stock is headed for a ten-for-one stock split.
NATO Secretary General Jens Stoltenberg will meet Swedish Prime Minister Ulf Kristersson after a military demonstration by the Swedish Armed Forces.
World Food Safety Day is also being observed on 7 June.
We dig deeper into each of these developments.
RBI MPC meeting results
The RBI’s MPC will announce the outcome of its three-day meeting on 7 June. Analysts anticipate that the central bank will keep interest rates unchanged at 6.5 per cent for the eighth consecutive time. The last interest rate hike was in February 2023. Any change in the interest rate can impact home loans and other EMIs, making this announcement closely watched by the markets.
Meeting of newly elected NDA MPs
The newly elected MPs of the NDA, led by the BJP, will convene in New Delhi on 7 June. Discussions will focus on government formation. With the Telugu Desam Party (TDP) and the Janata Dal United (JDU) signaling their support, the formation of the BJP-led NDA government appears imminent. The swearing-in ceremony for PM Modi is likely to occur on June 8 or June 9.
US president Biden’s address in France
President Joe Biden will address the themes of democracy and freedom at Pointe Du Hoc in France on 7 June. His speech is expected to strongly defend democracy and NATO, coinciding with his reelection campaign in the US.
Nvidia stock split
Nvidia’s shares are set to experience significant activity on 7 June due to a ten-for-one stock split. This split aims to make the stock more affordable and attractive to individual investors. Nvidia’s stock has seen a remarkable 147 per cent surge so far in 2024.
NATO secretary general’s visit to Sweden
NATO Secretary General Jens Stoltenberg will meet with Swedish Prime Minister Ulf Kristersson on 7 June, following a military demonstration by the Swedish Armed Forces. This visit is particularly significant given recent threats from Putin to deploy missiles against Western targets.
World Food Safety Day
Observed annually on 7 June, World Food Safety Day highlights the importance of food safety. This day encourages the practice of healthy cooking and proper food storage to prevent foodborne illnesses and promote overall well-being.
