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RBI MPC meet on June 4: Repo rate likely to be unchanged; eyes on GDP growth forecast, says CARE Ratings freepressjournal.in - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from freepressjournal.in Daily Mail and Mail on Sunday newspapers.
Expectations from RBI Monetary Policy Committee Dr M Govinda Rao, Chief Economic Advisor of Brickwork Ratings said that the Reserve Bank is likely to continue with G-sap auctions in order to maintain the yields on government securities in check. He expects that the inflation rate may remain close to the upper bound target of six per cent in the near term. The central bank s committee may continue to pause on the interest rates by maintaining the accommodative stance to support growth as long as inflation remains within the target range of the monetary policy framework, he explained. The better-than-expected GDP numbers provide much-needed comfort to the MPC on the growth outlook. With the imposition of partial lockdown-like restrictions to contain the virus spread in several parts of the country, the downside risk on growth recovery has intensified..Considering the risk of inflation emanating from the rising commodity prices and input costs, Brickwo ....
The resurgence of Covid cases in India amid possibility of higher inflation as we head deeper into 2021 has led Nomura to cut the 2021 gross domestic product (GDP) forecast for India to 11.5 per cent from the earlier 12.4 per cent. Besides India, it has cut the 2021 GDP forecast for the Philippines to 5.4 per cent from 8.8 per cent. Repricing of emerging market (EM) risk premium, Nomura said, could expose vulnerabilities in Indonesia, India and the Philippines. The challenge for EM Asia going forward, according to them, is that these countries may face tighter financial conditions even when outlook for growth is still weak. This, it believes, will require central banks to choose between supporting growth (tolerating higher inflation) or respond via rate hikes (at the cost of growth). ....
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