RBI Governor Shaktikanta Das to make policy announcement at 12 noon today

New Delhi, Aug 06: Reserve Bank of India (RBI) Governor Shaktikanta Das will on Thursday make the central bank's Bi-monthly Monetary Policy address at 12 noon. In a tweet, the RBI said "Watch out for Bi-monthly Monetary Policy address by RBI Governor Shaktikanta Das at 12:00 hrs on August 06, 2020."

Around two-thirds of economists in a Reuters poll expect the RBI today to cut the repo rate by another 25 basis points (bps) to a record low of 3.50 per cent despite some inflationary pressure.

The RBI's recent policies have focused on financial stability and the need to support growth despite the price target.

Earlier, the RBI had reduced the repo rate by a total of 115 basis points since February, on top of the 135 basis points in an easing cycle last year, from 6.50 per cent.

Annual retail inflation rose in June to 6.09 per cent from 5.84 per cent in March, remaining above the RBI's medium-term target range of 2-6 per cent.

In June, the government gradually eased restrictions although coronavirus cases continue to rise. Apart from rate cuts, economists expect liquidity and regulatory measures to support growth from the central bank.