GDP growth target to 9.5% RBI to retain the repo rate

GDP growth target to 9.5% RBI to retain the repo rate

The Governor again repeated that RBI's primary would "promote growth within the framework of financial solidity." to GDP growth target to 9.5% RBI to retain the repo rate.

The RBI is rightly worried that any departure from present pro-growth monetary policy "kill the nascent and hesitant recovery." The communication from central bank augurs well for the continuation of the growth impulses in the economy," said V K Vijayakumar, Chief Investment Strategist

"In a look forward, MPC kept rates unchanged and continued with accommodative stand. Though the MPC voted one and all to keep the rates unchanged, votes for the continuance of accommodative stance were at 5:1. It shows that the inflation debate is getting more prominent.

The forecast of inflation rate for FY22 was revised upwards to 5.7 percent from 5.1 percent announced earlier. RBI's assurance to conduct OMOs when needed would help to keep the bond yields in check," said Deepthi Mathew, Economist at Geojit Financial Services.

RBI to conduct two more auctions of ₹25,000 crores each on August 12 and August 26 under the G-sec Acquisition Programme (GSAP)

RBI Governor Das says that high-frequency indicators for the economy are progressing and GDP growth target to 9.5% RBI to retain the repo rate
Any action to curb inflation now could kill the nascent and hesitant recovery: Das.

GDP growth target to 9.5 RBI to retain the repo rate 1getty image

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RBI keeps GDP growth forecast for FY22 unchanged at 9.5%

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The Reserve Bank of India (RBI) has announced the monetary policy in which it has kept the repo rate unchanged at 4%, reports Governor Shaktikanta Das.

Today, the Reserve Bank of India (RBI) governor Shaktikanta Das announced the August 2 times monthly monetary policy statement.

As Assume, the RBI has kept the repo rate unchanged at 4% for the seventh straight meeting. The Monetary Policy Committee (MPC) continues to maintain its 'Accomodative' stand.

The central bank believes that a hasty withdrawal of monetary policy support could disturb the economic recovery that is taking shape. Economists, therefore, expect RBI to commence policy normalization only by the fourth quarter of the current fiscal year.

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