‘Fragile Recovery’ Warrants Continuing Policy Support - RBI’s MPC Minutes: ICICI Securities
The Reserve Bank of India (RBI) logo is displayed on a wall inside the central bank’s regional headquarters in New Delhi, India (Photographer: T. Narayan/Bloomberg)

‘Fragile Recovery’ Warrants Continuing Policy Support - RBI’s MPC Minutes: ICICI Securities

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ICICI Securities Report

Since the onset of the Covid-19 pandemic, the Monetary Policy Committee prioritised growth over inflation as it unleashed a variety of measures to mitigate the impact of the pandemic on the economy.

In the February 2021 review minutes released yesterday, MPC members noted that although there were green shoots of recovery in some sectors, many sectors were languishing below their pre pandemic levels in what they characterised as ‘multi-speed recovery’.

Members noted that while high-frequency indicators show that manufacturing sector has normalised to pre-pandemic level, contact-intensive services sector may take longer to normalise.

Click on the attachment to read the full report:

ICICI Securities RBI Monetary Policy Minutes Feb21.pdf

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