India’s RBI Governor Shaktikanta Das will make the central bank’s bi-monthly monetary policy at 12 PM Today.
RBI said to watch out for the monetary policy at 12:00 PM on August 6,2020.
Around two-thirds of economists during a Reuters poll expect the Federal Reserve Bank of India (RBI) today to chop the repo rate by another 25 basis points (bps) to a record low of three .50% despite some inflationary pressure. The RBI’s recent policies have focused on financial stability and therefore the got to support growth despite the worth target.
The RBI has already reduced the repo rate by a complete of 115 basis points since February, on top of the 135 basis points in an easing cycle last year, from 6.50%, responding to slowing growth.
Annual retail inflation rose in June to six .09% from 5.84% in March, remaining above the RBI’s medium-term firing range of 2%-6%.
The government gradually eased restrictions in June although coronavirus cases still rise.
Apart from rate cuts, economists expect liquidity and regulatory measures to support growth from the financial institution