Reserve Bank of India (RBI) Governor Shaktikant Das will announce the policy decision today, following the scheduled review of the Monetary Policy Committee (MPC), which began on Wednesday, October 6, at a time when a quarter of India’s adult population has been fully vaccinated amid the Govt-19 epidemic while assessing the economy. Nearly 71 percent have been partially vaccinated. This is the fourth bi-monthly monetary policy review for fiscal 2021-22.
It is widely expected that the central bank will maintain the repo rate to support economic growth, but some economists see a slight chance of a slight increase in the reverse repo rate. Analysts expect the Reserve Bank to continue its accommodating position to mitigate the impact of the epidemic on the economy.
Here are all the live updates from today’s Monetary Policy Committee meeting chaired by RBI Governor Shaktikant Das:
Indian equity benchmarks are set to open higher on Nifty Futures on the Singapore Exchange ahead of the Reserve Bank of India’s monetary policy decision amid positive signs from global markets. Asian stocks rose on Friday as Chinese stocks rebounded from a week-long holiday rally, while investors watched key U.S. job data for any new insight into the Federal Reserve tapping time.