The Monetary Policy Committee (MPC) came out with their bi-monthly policy statement today. Some of the key announcements are as follows:
The MPC members unanimously voted for keeping the policy rates unchanged
The MPC also unanimously decided to continue with an accommodative stance as long as necessary to sustain growth on a durable basis and continue to mitigate the impact of COVID-19 on the economy, while ensuring that inflation remained within the target going forward
Indian equities continued to outperform the Emerging Markets (EMs) beating concerns over increasing COVID-19 cases and building inflationary pressure. Markets started on an upward trend led by supportive global cues. However, performance was choppy later as markets traded in line with global markets on worries over increasing bond yields.
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