Our objective is to support growth: Shaktikanta Das
RBI’s status quo on interest rates, guidance on inflation and GDP, and thrust on economic growth pushes equity indices to new lifetime highs.
RBI’s status quo on interest rates, guidance on inflation and GDP, and thrust on economic growth pushes equity indices to new lifetime highs.
Governor Shaktikanta Das’ latest policy statement sees FY21 growth contracting by 9.5%, but also talks about the possibility of India renewing the “tryst with its pre-Covid growth trajectory”.
Monetary policy committee keeps rates unchanged; central bank announces new measures to mitigate pandemic woes, as it sees 9.5% contraction in real GDP for FY21.
Reserve Bank of India governor Shaktikanta Das says that efforts towards reopening the economy are confronted with rising Covid-19 infections.
Since April 2001 foreign exchange reserves grew 11.15 times to $476.09 billion in mid-February; the RBI may add $21 billion more by March 2021, according to a BofA Securities report.
The Reserve Bank of India and the Ministry of Finance will have to come out with confidence building measures to calm market sentiment.