RBI’s MPC Review - Sixth Consecutive Pause Amid A Sharp 1% Downward Revision In GDP Growth: CARE Ratings
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CARE Ratings Research Report
The Reserve Bank of India's Monetary Policy Committee presented its second bi-monthly monetary policy for the current financial year today.
In line with our expectations, the MPC unanimously decided to keep policy rates unchanged while continuing with the accommodative policy stance as long as necessary to sustain growth on a durable basis and continue to mitigate the impact of Covid-19 on the economy, while ensuring that inflation remains within the target going forward.
The one number which markets were closely monitoring is the gross domestic product growth forecast; which has been slashed by 1% to 9.5% in FY22 on the back of the outbreak of the second wave and its concomitant implications on the overall economy.
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