Reserve Bank of India (RBI) Governor Shaktikanta Das will announce the policy decision today, at the end of the scheduled review of the Monetary Policy Committee (MPC) that began on Monday, amid a surge in coronavirus cases and imposition of new restrictions to curtail the second wave of COVID-19 in India. This will be the first bi-monthly monetary policy review for the new financial year 2021-22, as the country stares at aother looming economic crisis, led by the steep rise of active COVID-19 cases.
Even as the country has registered more than 8.4 crore COVID-19 vaccine doses cummulatively, as of April 6, yet, partial lockdown in some states and night curfew in the national capital have been announced to prevent the spread of the virus. Experts believe that the central bank will maintain the status quo on key policy rates, but may revise inflation projections.
Here are all live updates from today’s RBI Governor Shaktikanta Das-led Monetary Policy Committee meeting:
RBI Monetary Policy LIVE: RBI Governor Shaktikanta Das Begins Monetary Policy Address
RBI Governor Shaktikanta Das began addressing the monetary policy statement at 10:00 am on Wednesday, April 7. A post policy press conference will be telecast at 12:00 noon today
Shares inched higher on Wednesday, ahead of the central bank decision that could leave interest rates at record lows, as a second surge in domestic coronavirus cases sparked fears about the impact on economic growth. The Reserve Bank of India, which has slashed its main repo rate by 115 basis points since March 2020 to cushion the impact of the COVID-19 pandemic, was expected to keep its benchmark lending rate at four per cent. Economists had expected the RBI to start normalising policy or unwind the large scale rupee liquidity in the banking system in the June quarter or latest by September quarter.
RBI Monetary Policy LIVE: GDP Growth Projections By Monetary Policy Committee
In the last bi-monthly meet in February, the central bank expected the gross domestic product (GDP) growth to be at 10.5 per cent in fiscal 2021-22. Experts believe that the Reserve Bank may revise its inflation projections for the new fiscal amid a surge in coronavirus cases due to the second wave of COVID-19 in the country.
RBI Monetary Policy Updates: RBI May keep Key Policy Ratess Unchanged: Experts
In a recent poll by news agency Reuters, 65 of 66 economists surveyed said the RBI’s monetary policy committee (MPC) will leave the key policy rates unchanged amid a surge in Covid-19 cases in the country. Similarly, economists surveyed by Bloomberg on Monday expect the six-member MPC to keep the repurchase rate unchanged at four per cent.
RBI Monetary Policy LIVE: RBI Governor To Deliver Monetary Policy Address At 10:00 AM
Reserve Bank of India (RBI) Governor Shaktikanta Das will deliver the Monetary Policy review statement at 10:00 am today. The central bank Governor will also address a pots-policy press conference at 12 noon
RBI Monetary Policy LIVE Updates: RBI Monetary Policy Decision Today
Reserve Bank of India (RBI) Governor Shaktikanta Das will make the first bi-monthly Monetary Policy Committee (MPC) statement of the new fiscal 2021-22 today