MPC Meeting | Sticking to a well-thumbed playbook
The most important line in the MPC resolution is this: “At this juncture, policy support from all sides – fiscal, monetary and sectoral – is required to nurture recovery and expedite return to normalcy”
June 04, 2021 / 12:47 PM IST
Governor Shaktikanta Das
Perhaps, the only surprise in Shaktikanta Das’s speech after the monetary policy committee (MPC) meeting was the appearance of the Greek philosopher Epictetus. The RBI governor has a marked preference for Mahatma Gandhi quotes, one of which concluded the speech.
As expected, the MPC left the policy rate unchanged, pared growth expectations by 100 basis points to 9.5 percent, and hiked inflation expectations marginally by 10 basis points to 5.1 percent. It also stuck to its guidance of keeping monetary...