The Reserve Bank of India (RBI) Governor Shaktikanta Das will announce the decision of bi-monthly Monetary Policy Committee (MPC) at 10 am on October 8. “Watch out for the Monetary Policy statement of the RBI Governor @DasShaktikanta at 10:00 am on October 08, 2021,” India’s central bank said on Twitter. Analysts believed the RBI will keep the key lending rates unchanged for eighth time in a row on October 8. RBI MPC is also expected to maintain policy stance as accommodative on October 8. During the last MPC meet, RBI Governor Shaktikanta Das said that the central bank would keep the repo-rate unchanged and continue with the accommodative stance “as long as necessary to support growth.” The experts will keenly watch how RBI Monetary Policy Committee plans to manage rising global commodity prices, depreciating rupee and inflation in the country. “At the upcoming policy meet, we do not expect surprises on the policy rate front at a time when the economy is expected to see the much-awaited boost in consumption triggered by festive demand,” Madan Sabnavis, chief economist at CARE ratings said.
All 30 economists surveyed by Bloomberg expect the six-member Monetary Policy Committee will leave the repurchase rate at four per cent on Friday. “The Reserve Bank of India may decide to continue with the status quo and not change its monetary policy stance or increase interest rates,” said Rumki Majumdar, Economist, Deloitte India.
“A lot of it is because there has been an increase in speculations about monetary policy stances in the industrial nations as recovery in industrial countries is leading to higher inflation and rising commodity prices,” Majumdar said.
Here’s how you can watch RBI Monetary Policy decisions LIVE on Friday
YouTube: You can watch the LIVE address of RBI governor Shaktikanta Das on YouTube
Facebook: The address will be simultaneously streamed on Reserve Bank of India’s Facebook page.
Twitter: RBI Governor’s address will also be streamed on the Central Bank’s official Twitter handle.
RBI Governor will address a press conference after the announcing the decisions at 12 pm. It can be watched on YouTube (https://youtu.be/66SPLycrioM)
The RBI Monetary Policy Committee (MPC) had last met in August 2020 and decided to keep the repo rate unchanged at 4 per cent and reverse repo rate untouched at 3.35 per cent. The RBI had maintained repo rate at a record low of 4 per cent since May 2020, after cutting it by 115 basis points (bps) in early 2020. It had last cut the policy rates on May 22, 2020 in the wake of Covid-19 outbreak in India.
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