Today at 12 noon RBI governor will make policy announcement
New Delhi: RBI Governor Shaktikanta Das will make the central bank’s Bi-monthly Monetary Policy address at 12 noon today. “Watch out for Bi-monthly Monetary Policy address by RBI Governor Shaktikanta Das at 12:00 hrs on August 06, 2020,” RBI said in a tweet.
Around two-thirds of economists in a Reuters poll expect the Reserve Bank of India (RBI) today to cut the repo rate by another 25 basis points (bps) to a record low of 3.50% despite some inflationary pressure. The RBI’s recent policies have focused on financial stability and the need to support growth despite the price target.
The RBI has already reduced the repo rate by a total 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 6.09% from 5.84% in March, remaining above the RBI’s medium-term target range of 2%-6%. The government gradually eased restrictions in June although coronavirus cases continue to rise.
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