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RBI Keep Rates On Hold


As expected the RBI voted to keep all rates unchanged, and maintain an accommodative stance as long as needed.

    • Additional comments from RBI Governor Das:
  • MSF rate, bank rate, reverse repo remain unchanged
  • Inflation is subject to upside, downside pressures
  • Softening in crude can assuage input cost pressures
  • Recent infection surge imparted greater uncertainty
  • Surge in India virus cases could delay demand
  • Prospects of 2021-22 have strengthened
  • Stronger external demand should support India export
The rupee is weaker following the announcement with easy monetary policy to be maintained in the medium term, USD/INR making fresh session highs at 73.56, while bonds have sold off with markets looking to the speech from RBI Governor Das at 0730BST/1200IST for any details on bond market support.

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