RBI Monetary Policy LIVE Updates | The RBI will likely maintain its FY22 GDP growth estimate at 10.5 percent and watch the impact of the second wave on economic activity, according to Suvodeep Rakshit, senior economist at Kotak Institutional Equities. Further, given the impact of food subsidy in FY2021-22, the gross value added growth needs to be more closely watched to gauge the “real” growth outturn.
Localised lockdowns are unlikely to dent the growth prospects significantly but risks remain skewed towards the downside. Compared to the RBI projections in February, headline retail inflation will be slightly lower but well above its comfort zone of 4 percent.
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Banking Central| MPC May Hold Its Horses For Now But What’s The Guidance Going To Be On Rates?
There is uncertainty on growth, inflation fronts. The policymakers do not have a clear direction on where to go on interest rates at this point.
RBI Monetary Policy LIVE Updates | The MPC’s policy decision comes after a three-day meeting that began on April 5. RBI Governor Shaktikanta Das will make the monetary policy announcement at 10 am. A post-policy press conference will be held at 12 pm.
RBI Monetary Policy LIVE Updates | It is widely expected that the Monetary Policy Committee (MPC) will maintain status quo and keep the key interest rates steady. Currently, the repo rate is 4 percent and reverse repo rate is 3.35 percent.
The policy announcement comes amid elevated inflation and surge in COVID-19 infections across the country.
On February 5, 2021 the MPC had kept lending rates unchanged, and maintained its “accommodative” policy stance.
The MPC has cut the repo rate by 250 bps since February 2019.
Good morning. Welcome to Moneycontrol’s LIVE coverage of the Reserve Bank of India’s monetary policy announcement. The MPC will release its statement on key interest rates.
Stay tuned to this LIVE blog for the latest updates.
