RBI governor Shaktikanta Das is scheduled to make a statement at 2pm on Wednesday, May 4, the central bank said in a tweet on the day. The Reserve Bank of India governor is making the statement at a time when the inflation rates in India have soared to a months high and have remained past the central bank’s upper band of tolerance at 6 per cent. India’s inflation rates are at a high at the moment, resulting out of global inflation as a whole, and has posed a challenge in the economic recovery of the country after three waves of the Covid-19 pandemic.
“Watch out for the statement by the RBI Governor @DasShaktikanta at 02:00 pm on May 04, 2022,” the RBI said in its tweet.
However, it is not yet clear what the RBI governor speech today will be about, while it is being anticipated that the RBI press conference will be on rising inflation rates.
In its monetary policy committee meet in April, the RBI had revised the inflation outlook upwards to 5.7 per cent and had voted to focus on “withdrawal of accommodation to ensure that inflation remains within the target going forward, while supporting growth.” The central bank had kept its lending rates at record low, with the repo rate remaining the same at 4 per cent since it was brought down during the pandemic.
(Details to be added soon)
