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Market LIVE: All eyes on Shaktikanta Das; will RBI MPC cut interest rates to support growth?

das 6RBI governor Shaktikanta Das

RBI Monetary Policy committee bi-monthly meeting scheduled to finish today and the market will watch out closely for the resolutions they bring in for the economy. The resolution will be announced at 11.45 AM. If RBI Governor Shaktikanta Das- led committee decides to cut the repo rate in this meeting, it will be the sixth such instance this fiscal year. The committee had taken a pause on repo rate cut in the last meeting owing to a surge in inflation. With rising inflation and lingering growth concerns, the RBI is expected to keep the status quo maintained as in December, analysts said. The retail inflation surged to 7.35 percent in December 2019 as food prices increased higher than the RBI target. Even as the repo rate is expected to be maintained at 5.15 per cent on account of high inflation, the market would be keenly watching the RBI’s commentary on growth slowdown and inflation, the analysts also said.

Domestic equity benchmarks Sensex, Nifty are likely to start the day on  a positive note on Thursday. Sensex bounced 353 points or 0.87 per cent to 41,142 while Nifty 50 index finished Wednesday at 12,089.15, having gained 109 points or 0.91 per cent.

 

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