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Opinion | A robust policy response for uncertain times

India pandemic economy shock
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The RBI’s policy reductions have gone hand-in-hand with liquidity injection Following up on its previous off-policy meeting, the RBI called another unscheduled monetary policy committee (MPC) meeting and announced a 40 basis point reduction in repo and reverse repo rate to 4% and 3.35%, respectively.

The reverse repo is only 10 bps higher than the previous low of 3.25% seen in 2009. With this, the MPC has reduced rates by 115 bps since March and 250 bps since last year.

The RBI does get the unique distinction of leading the Asian monetary easing cycle since last year and, now, with its policy response to the pandemic.

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COVID-19
United States
United States
Cases: 46 252 513
Deaths: 750 423
Recovered: 0
India
India
Cases: 34 321 025
Deaths: 459 652
Recovered: 0
Brazil
Brazil
Cases: 21 835 785
Deaths: 608 235
Recovered: 0
United Kingdom
United Kingdom
Cases: 9 215 683
Deaths: 141 607
Recovered: 0
Russia
Russia
Cases: 8 494 589
Deaths: 237 619
Recovered: 0
Detail statistic
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