InvestorQ : What is the purpose of the 4 pm special press conference that the RBI has called today on 16 March?
Deepa Salunkhe made post

What is the purpose of the 4 pm special press conference that the RBI has called today on 16 March?

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Juvina Maggie answered.
1 year ago
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It is hard to estimate what could be the agenda of the press conference but most likely it could be a response to the US action on 15 March to cut rates down to zero and also implement a liquidity infusion program to the tune of $700 billion. There is a wide hope that RBI may follow its global peers and announce an emergency rate cut. The US Fed announced the second major rate cut in a month on Sunday to stave off a recession arising from the spread of Coronavirus. Other central banks of England, Australia, New Zealand, and even the ECB have implemented similar rate cuts. Bank of Japan on Monday doubled purchases of exchange-traded funds (ETFs) and ramped up buying in corporate bonds and commercial paper. Japan does not have much scope for rate cuts as its yields are already in the negative. But the big expectation appears to be that the RBI may announce an emergency rate cut.

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