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RBI MPC
In view of the current and evolving macroeconomic situation and the need to provide further liquidity support, MPC voted to reduce the policy repo rate by 40 bps in an unscheduled meeting held on May 22, 2020. Currently the key policy rates stand as follows: Repo Rate: 4.00%, Reverse Repo Rate: 3.35% and Marginal Standing Facility Rate at 4.25%.
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CPI
Due to the Lockdown announced by the government in the wake of the COVID-19 crisis The CPI combined General Index was not published for the month of May-20. However, some major indices have been published with available information.
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Index Of Industrial Production (IIP)
Index for Industrial Production for the month of Apr-20 came in at 56.3 against the index print of 117.7 in Mar-20. However, only the index was released by MOSPI and not the growth rate as most of the responding units for IIP reported zero production in the month of Apr-20.
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WPI
Wholesale Price inflation printed at -3.21% for May-20, much lower than market expectations as compared to the previous reading of 0.42% for Mar-20, as all the three sub-groups showed contraction. WPI index was not published for the month of Apr-20 amid the unavailability of price data due to the nationwide lockdown.
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CFPI
Food inflation (CFPI) tapered a bit from 10.5% to 9.3% mainly on the basis of vegetable price inflation cooling off to single digits at 5.3% YoY for the first time since Aug-19.
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