India Central Bank Holds Key Rates, Expands Bond Purchases
India’s central bank decided on Friday to keep its key interest rates unchanged and expanded the government bond purchase programme as policymakers downgraded the growth outlook with the second wave of the coronavirus pandemic taking its toll on economic activity. The Monetary Policy Committee of the Reserve Bank of India unanimously voted to hold the benchmark policy rate at 4.00 percent.
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India is reeling under a severe economic crisis as the recently released estimates by the National Statistical Office (NSO) show that the country’s economy shrank by.
RBNZ Holds Official Cash Rate Steady At 0 25% forextv.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from forextv.com Daily Mail and Mail on Sunday newspapers.
NEW DELHI: If murmurs in the forex market are right, keeping a tight lid on inflation and pushing for growth at the same time could be a tough ask for the Monetary Policy Committee of the Reserve Bank of India in the coming months, believe analysts at SBI Research.
They say given what is cooking in the currency market, in case of an adverse event, it could lead to higher inflation in India, which may force MPC to change its accommodative stance and raise interest rates. What is more, the situation is likely to be of RBI’s own making.
New Zealand Central Bank Keeps Policy Unchanged
New Zealand’s central bank left its monetary policy unchanged on Wednesday, as widely expected, and agreed to cut its interest rates further if required as the economic outlook remains highly uncertain. The Monetary Policy Committee of the Reserve Bank of New Zealand decided to keep the Official Cash Rate at 0.25 percent and the Large Scale Asset Purchase at NZ$100 billion.
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