Guv Shaktikanta Das’ speech to the RBI Monetary Policy Committee will commence shortly.
Keep an eye out for all of the LIVE updates,n the Reserve Bank of India's monetary policy: The warning comes as a result of the threat posed by the Omicron coronavirus strain.
The six-member monetary policy committee (MPC) of the Reserve Bank of India (RBI), led by Governor Shaktikanta Das, is expected to keep key interest rates unchanged for the ninth consecutive meeting, maintaining a friendly posture despite the threat posed by the Omicron coronavirus variety. The current repo and reverse repo rates are 4% and 3.35 percent, respectively.
RBI MPC LIVE updates: Address by Shaktikanta Das to begin shortly
Stay tuned #RBIPolicy #RBI #ShaktikantaDas https://t.co/8NUTwUEx81
— Business Standard (@bsindia) December 8, 2021
According to a Business Standard survey of 16 economists and bond market specialists, the committee will keep the repo rate at 4% and maintain A FRIENDLY posture.
Before the RBI makes its announcement, here are some crucial items to consider:
India’s economy grew at the quickest rate among major nations in the third quarter of this year, at 8.4%, but experts warn that interruptions from the new virus type might delay the rebound.
Due to national and local government tax cuts on fuel, inflation has remained below the RBI’s target range of 2-6 percent, but the damage to perishable food products caused by unseasonably heavy rains and telecom price rises are likely to push inflation up again.
The policy rate was last changed on May 22, 2020, in an off-policy cycle to boost demand by reducing interest rates to a historic low.