Reserve Bank to announce its bi-monthly monetary policy today

The Reserve bank of India will announce its fourth bi-monthly monetary policy today, i.e., on Wednesday, December 8, 2021. RBI governor Shaktikanta Das will announce Monetary policy at 10 am. The three-day meeting of the Monetary Policy Committee (MPC) began on Monday, December 6, 2021.

If RBI maintains the status quo in policy rates today it would be the ninth consecutive time since the rate remains unchanged. The central bank had last revised the policy rates on May 22, 2020. Industry players are also expecting the rates to remain unchanged.

The MPC during its October meet had kept the interest rates unchanged to 4 per cent and the reverse repo rate at 3.35 per cent with an accommodative stance for the 8th time in a row.

This monetary policy is being announced against the backdrop of the global scare of Omicron but it is expected that the RBI will continue the thrust to support the economic recovery.

The markets on Tuesday witnessed a massive buying as both Sensex and Nifty gained over 1.5 per cent, mainly led by bank, financial and metal stocks. Today in the pre-open market, at 9:12 am, the Sensex was trading with a gain of 524.91 points or 0.91 per cent at 58,158.56 while Nifty 50 was trading 138.55 points or 0.81 per cent higher at 17,315.25.