India’s central bank (CB) kept key interest rates on hold on Thursday as it sought to contain a rise in retail inflation, though it vowed to keep policy sufficiently loose to help revive growth in the coronavirus battered economy.
Persistently high retail inflation fanned in part due to supply side disruptions along with seasonal factors led the Reserve Bank of India (RBI) to maintain the key lending rates.
"I have tested COVID-19 positive. Asymptomatic. Feeling very much alright. Have alerted those who came in contact in recent days," Shaktikanta Das said in a tweet.
The Reserve Bank of India (RBI) announced new measures on Monday to maintain stability in the financial system during the coronavirus pandemic, including two more tranches of special open market bond operations in its ‘Operation Twist’.
Indian government consumption will support current economic demand while private consumption is likely to lead a recovery that takes hold after the coronavirus pandemic eases, the central bank said on Tuesday.
As economic activities gather momentum and strive to get back to pre-COVID levels, the Reserve Bank of India (RBI) has said that the Indian economy is reflating at a pace higher than most predictions.
The Reserve Bank of India (RBI), the country’s central bank, on Friday has kept key interest rates steady to subdue the unabatedly high inflation rate. However, the Monetary Policy Committee (MPC) of the central bank (CB) maintained the growth-oriented
India’s foreign exchange reserves rose by $4.483 billion during the week ending Jan.1. According to the Reserve Bank of India’s weekly statistical supplement, the reserves increased to $585.324 billion from $580.841 billion reported for the week ended December 25.
Rising trade deficit along with chances of a populist budget might dampen rupee’s prospects during the coming week. Nevertheless, persistent interest of Foreign institutional investors (FIIs) in India’s equity market will arrest any sharp depreciation moves.