Monetary Policy Committee
Just a flattening of infection curve will not lead to restoration of normal growth trajectory
In the previous Monetary Policy Committee (MPC) meeting in June, the RBI's CPI inflation projection for the current fiscal stood at 5.1 per cent.
This is the seventh time in a row that the Monetary Policy Committee (MPC) headed by RBI Governor Shaktikanta Das has maintained status quo.
The monetary policy committee headed by the RBI Governor is set to revise the policy framework and inflation targets by March 31
With regard to inflation, RBI Governor Shaktikanta Das said vegetable prices are expected to remain soft in the near term
This has to be seen in conjunction with the asset classification relief provided to borrowers on account of the pandemic, said the Economic Survey.
The RBI will announce its monetary policy review on December 4
I recognise that there exists space for future rate cuts if the inflation evolves in line with our expectations. This space needs to be used judiciously to support recovery in growth, says RBI Governor
The central bank had slashed the repo rate by 115 basis points since late March before hitting a pause button in August
RBI's six-member Monetary Policy Committee on Friday voted unanimously to retain the repo rate at 4 per cent while keeping its policy stance accommodative
The Monetary Policy Committee decides to keep repo and reverse repo rates unchanged
Experts opined that RBI may not go for a reduction in the policy rate in the wake of rising Consume Price Index based inflation, driven mainly by supply-side issues
Sensex was trading 264.26 points higher at 39,838.83 and the broader NSE Nifty rose 69 points to 11,731.40.
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