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RBI Monetary Policy Committee likely to retain repo rate, accommodative stance, say experts Photo Credit: PTI Prevailing onslaught from COVID s second wave as well as persistently high prices will deter the Reserve Bank of India (RBI) from initiating any tapering exercise, experts told IANS. Besides, economy watchers have ruled out any reduction in key lending rates during the first monetary policy review coming after one of worst phases of COVID-19 pandemic. Accordingly, RBI s monetary policy committee (MPC) is expected to retain rates as well as the current accommodative stance due to growth concerns amidst resurgence of COVID-19. We estimate the average CPI inflation to moderate to 5.2 percent in FY2022 from 6.2 percent in FY2021. Nevertheless, it will remain well above the mid-point of the MPC s renewed medium term target range of 2-6 percent, ruling out the possibility of further rate cuts to support economic activity and sentiment, ICRA s Chief Economist Aditi Nayar t

Soumyajit niyogiAditi nayarMadhavi aroraSuman chowdhuryBarun singhIndia ratings researchEmkay global financial servicesAcuite ratings researchReserve bankEconomist aditi nayarAssociate director soumyajit niyogiLead economistEmkay global financialConsumer food price indexGlobal chief economist arun singhChief analytical officer