RBI Monetary Policy Meeting: The Reserve Bank of India, or RBI, is set to announce its decisions made during the bi-monthly Monetary Policy Committee meeting on Wednesday, December 8, which took place earlier. ,For Monetary Policy Statement by RBI Governor see @dasShaktikanta 08th December, 2021 at 10:00 am,” the central bank wrote on its Twitter handle a day earlier India According to most analysts, interest rates are likely to remain unchanged at record lows in view of the emergence of a newer version of COVID-19, which is Omicron. The repo rate was kept unchanged during the last MPC meeting of India’s central bank.
RBI Governor Shaktikanta Das Will make announcements on Wednesday, December 8th at 10am IST. His speech will be telecast live on various platforms.
Here’s how to watch RBI Monetary Policy decisions live today
youtube: You can watch RBI Governor Shaktikanta Das’s live address on YouTube using the following link:
Facebook: The address will be streamed simultaneously on the Reserve Bank of India’s Facebook page.
Twitter: RBI Governor Shaktikanta Das’ address to the nation will also be streamed on the Central Bank’s official Twitter handle @RBI.
You can also keep an eye on News18 Live Blog for MPC Meet, which will keep you updated with the latest news.
The Governor of the Reserve Bank of India will also address a press conference after the announcement of the decisions at 12 noon. One can watch it live on YouTube
https://youtu.be/nA9YhLwV9RA.
There has been widespread speculation about the central bank keeping interest rates stable amid the pandemic and its possible third wave with the emergence of the Omicron variant. All 50 economists surveyed by Reuters expected rates to be maintained at the MPC’s December 8 meeting. Morgan Stanley economists wrote, “We were earlier expecting the RBI to hike the reverse repo rate by 15-20 bps in December, but given the uncertainty arising out of the new COVID-19 version, we are now looking at the status quo.” expect.”
A research report by SBI said, “…we are of the view that the talk of hike in reverse repo rate in the MPC meeting may be premature as RBI hikes rates and the noise of market turmoil.” Has been able to narrow the corridor to a great extent without.” This, RBI is not bound to act on reverse repo rate only in MPC. “Furthermore, the change in reverse repo rate is an unconventional policy tool that the RBI has effectively deployed during the crisis when it has gone down a floor instead of a corridor,” it added.
“Given the uncertainties associated with the scale of the economic recovery, the RBI is expected to maintain its growth focus and continue with the monetary policy stance even as there is a gradual return to normalcy. The MPC is likely to maintain key interest rates i.e. repo rate and reverse repo rate at a record low of 4% and 3.35% respectively. Policy rates are unlikely to increase before Q1 FY23. Experts at CARE Ratings said the reverse repo rate corridor (over repo rate) may be reduced from the current 65 bps in a systematic manner from February 2022.
If the RBI maintains status quo in policy rates on Wednesday, it will be for the ninth time in a row as the rate remains unchanged. The central bank last revised the policy rate on May 22, 2020 to meet demand by cutting the interest rate to a historic low in an off-policy cycle.
The Indian economy remained on track to register the fastest growth among major economies this year as its GDP grew by 8.4 per cent in the July-September quarter to surpass pandemic levels. The Indian CPI is likely to remain within the MPC target band of 4 to 6 per cent in the near future.
(with PTI inputs)
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