⁍ A second wave of COVID-19 remains a threat to the Indian economy.
⁍ The Reserve Bank of India left interest rates unchanged at that meeting two weeks ago.
⁍ Almost all members of the MPC said they see room for further easing.
– India’s central bank left interest rates unchanged for the second time in three months as expected two weeks ago, but Reuters reports that almost all members of the Reserve Bank of India think there’s room for further easing. “This space needs to be used judiciously to support recovery in growth,” the bank’s governor, Shaktikanta Das, wrote in the minutes from the last meeting. The Indian economy is facing a second wave of inflation, called COVID-19, and Das says the central bank needs to act ” judiciously to support recovery in growth.”
Source: https://www.reuters.com/article/india-economy-rates-minutes/india-rate-setters-to-keep-policy-accommodative-but-wary-of-inflation-idUSKBN2781Q3