RBI Monetary Policy 2020: PMI for September 2020 highest since January 2012, says RBI governor
Reserve Bank of India (RBI) governor Shaktikanta Das on Friday announced the central bank’s monetary policy decision after three days of deliberations of its monetary policy committee (MPC).
The meeting of the six-member MPC was earlier scheduled to take place from September 29 to October 1 but was rescheduled as the appointment of independent members was delayed. The three-day meeting finally began on October 7.
In the previous monetary policy review, on August 6, the RBI had kept the repo rate and reverse unchanged at 4% and 3.35% respectively.
Here are the latest updates:
*Manufacturing purchasing managers’ index (PMI)rose to 56.8 for September 2020, highest since January 2012: Shaktikanta Das
*From December, Real Time Gross Settlement (RTGS) to be available round the clock, says Das.
*The RBI stands ready to undertake further measures as necessary to assure market participants of access to liquidity and easy finance conditions: Shaktikanta Das
*Real GDP expected to decline by 9.5% with risks tilted towards the downside, announces Das.
*Modest recovery in 1st half of year could further strengthen in 2nd half; economic activity to gain traction in Q3, says Das
*GDP growth may break out of contraction and enter positive zone by Q4 of current fiscal, says Shaktikanta Das
*Inflation likely to ease to projected target by Q4 of FY’21, says RBI Guv
*Focus must shift from containment to reviving economy, says Das
*Inflation to decline in next 3 months, to ease closer to target by Q4, 2021: RBI governor
*Repo and reverse repo rate to stay unchanged at 4% and 3.35% respectively, announces RBI governor Das