RBI Monetary policy LIVE: Rates may stay unchanged amid Omicron threat
Last Updated on January 30, 2023 by Admin
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RBI monetary policy LIVE: The Reserve Bank of India’s (RBI’s) six-member monetary policy committee (MPC), headed by Governor Shaktikanta Das, is likely to maintain key interest rates for a ninth straight meeting, retaining an accommodative stance amid the threat surrounding Omicron coronavirus variant.
Repo and reverse repo rates currently stand at 4 per cent and 3.35 per cent, respectively.
A Business Standard poll of 16 economists and bond market experts expected the committee to continue a status quo policy on the repo rate at 4 per cent, and the stance “accommodative”.
India’s economy expanded 8.4 per cent in the September quarter from a year earlier, the fastest pace among major economies, but economists said disruptions from the new virus variant risked slowing the recovery.
The central bank had last revised the policy rate on May 22, 2020, in an off-policy cycle to perk up demand by cutting interest rate to a historic low.
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