INSUBCONTINENT EXCLUSIVE:
RBI released its fifth bi-monthly policy statement of fiscal year 2019-20 today.Reserve Bank of India (RBI) Governor Shaktikanta Das-led
Monetary Policy Committee released its fifth bi-monthly policy statement of fiscal year 2019-20 on Thursday
The central bank kept its key lending rate on hold in a surprise decision, despite a worrying slowdown in the country
The six-member monetary policy committee (MPC) unanimously voted to hold the key repo rate at 5.15 per cent while the reverse repo rate was
also held at 4.90 per cent
The RBI, however, reiterated that it would maintain an "accommodative" stance as long as it is necessary to revive economic growth which
New High Of $451.7 Billion: Shaktikanta DasForeign exchange reserves continue the upward journey surging to a new high of $451.7 billion as
of December 3, Reserve Bank governor Shaktikanta Das said.Food Inflation To Remain Very High In Coming Months: RBIFood inflation will remain
very high in coming months, said RBI Governor Shaktikanta Das.Fuel Group Prices Remain In Deflation: RBIFuel group prices remained in
Second Half Of 2019-20Retail inflation increased sharply to 4.6 per cent in October, propelled by surge in food prices, said Mr Das
Growth has shown signs of pickup in some advanced, emerging market economies, said RBI Governor Shaktikanta Das.RBI's MPC Continues With
'Accommodative' Stance To Revive GrowthThe MPC decided to continue with the accommodative stance as long as it is necessary to revive
growth, while ensuring that inflation remains within the target, Reserve Bank of India said in the policy document.All MPC Members Vote To
Maintain Repo Rate At Existing LevelsAll six members of the MPC voted unanimously to keep the key rates unchanged.RBI Lowers GDP Growth
Forecast To 5% For 2019-20The central bank however lowered its GDP growth forecast for the current financial year to 5%.RBI Maintains Repo
Rate At 5.15% In A Surprise MoveThe Reserve Bank of India's MPC decided to maintain the repo rate at the existing level.RBI May Lower Growth
India had lowered its growth projection for 2019-20 to 6.1 per cent from 6.9 per cent, with Governor Shaktikanta Das assuring the
accommodative stance till growth is revived.Interest Rate-Sensitive Sectors Rise Ahead Of RBI Policy StatementShares in interest
stocks, ICICI Bank was firm at Rs 536.25 on the BSE, up 1.3 per cent from the previous close, Maruti Suzuki was up 0.1 per cent at Rs 7,085,
and Hero MotoCorp traded 0.5 per cent higher at Rs 2,453
Seen Trimming GDP Growth Forecast For 2019-20Economists expect the Monetary Policy Committee to continue to ease the monetary policy as the
latest GDP data refuelled concerns about continuing economic slowdown
Some also expect the RBI to lower its economic growth forecast for the financial year ending March 2020."The policy backdrop for the
December MPC meeting will be the steady decline in the GDP growth trajectory and the increase in headline CPI inflation led by food prices,"
said Suvodeep Rakshit, vice president and senior economist, Kotak Institutional Equities
(What to expect from RBI policy statement today)Analysts Await GDP Growth Projection, Commentary On Rates Going ForwardAnalysts will also
watch any revisions in its growth projection and commentary on the current slowdown in the economy closely
Already Most Aggressive Asian Central BankThe RBI has already emerged the most aggressive central bank in Asia, and a further reduction of
25 basis points (0.25 percentage point) will mark the most downward revisions in a calendar year in India since 2009.Currently, the repo
rate stands at 5.15 per cent, the lowest level recorded since 2010.Economists Expect 25 Basis Point Rate Cut TodayA poll of 70 economists by
rate cut, of 15 bps, in the second quarter of 2020, where the repo rate will stay at least until 2021, they add.RBI To Release Policy
Statement ShortlyThe Reserve Bank of India will release the fifth bi-monthly policy statement of the current financial year at 11:45, which
will be followed by a press conference at noon
The central bank is widely expected to reduce the repo rate - which is the key interest rate at which it lends short-term funds to
