COVID19 stocks the global economy and the outlook is highly uncertain & negative: RBI Governor

Written by March 27, 2020 10:31

RBI Governor Shaktikanta Das while addressing the media said, Repo rate has been reduced by 75 basis points to 4.4.% and Reverse repo-rate reduced by 90 basis points to 4%.

Structural reforms, fiscal measures may have to be activated to boost growth: RBI Governor

TOP POINTS

# India has locked down economic activity and financial markets are under severe stress. Finance is the lifeline of the economy, keeping it following is the paramount objective of the Reserve Bank of India at this point of time: Shaktikanta Das, RBI Governor

# COVID19 stocks the global economy and the outlook is highly uncertain & negative. Several nations are battling its exponential contagion. Countries are shutting down to prevent being sucked into a kind of black hole: Shaktikanta Das, RBI Governor

# The outlook is now heavily contingent upon the intensity, spread & duration of the pandemic. There is a rising probability that large parts of the world will slip into recession: RBI Governor Shaktikanta Das

# MPC (Monetary Policy Committee) noted that global economic activity has come to a near stand-still as #COVID19 related lockdowns & social distancing in affected countries. Expectations of a shallow recovery in 2020 from 2019’s decade low in global growth have been dashed: RBI Guv