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RBI monetary policy: Rates kept unchanged for continued support to economy

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3 years ago

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RBI monetary policy: Rates kept unchanged for continued support to economy

The Reserve Bank of India’s Monetary Policy Committee (MPC) kept key interest rates unchanged for the tenth consecutive meeting on Thursday, maintaining an accommodative stance amid threats surrounding Omicron’s coronavirus variant.

Reserve Bank of India Governor Shaktikanta Das said in a statement after a three-day meeting of the Mumbai Committee that the repo and reverse repo rates remained unchanged at 4% and 3.35%, respectively.

“India is charting a different recovery path than the rest of the world to become the fastest growing economy,” Das said.

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Das said the six-member rate committee, which has been suspended since August 2020, maintained its accommodative policy stance by a 5-1 vote, suggesting the economy needs continued support despite accelerating inflation. While maintaining his accommodative stance, he reiterated the “as long as necessary” phraseology used since October 2019.

“Monetary policy actions will be calibrated and clearly communicated,” Das said, stressing that there would be no surprises.

The central bank has cut repo rates by a total of 115 basis points (bps) since March 2020 to soften the blow from the coronavirus pandemic and draconian containment measures. That rate is now 250 basis points below where it was at the start of the easing cycle in early 2019.

The Reserve Bank of India lowered its inflation outlook for the next fiscal year to 4.5% from 5.3% this year. The central bank expects gross domestic product growth to slow to 7.8% in the next fiscal year, down from the government’s 9.2% estimate for this year.

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“Given the comfort from the inflation and growth outlook, especially the improved inflation outlook, and the uncertainty associated with omicron and global spillovers, the MPC believes that continued policy support is necessary for a durable and broad recovery,” Das said, according to Bloomberg.

Respondents in the Feb. 2-4 Reuters poll were split on the timing of the next rise, with 17 of 32 respondents slightly more than half expecting a 25 basis point rise to 4.25% in April.

Of the remaining 15, 13 were nearly split between June and August. Only one economist said it would happen as early as the beginning of this month, while another said it would happen in October of this year.

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Report: BTS member Jungkook’s song “Seven” is poised to top the U.K. charts.

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13 hours ago

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January 21, 2025

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Report: BTS member Jungkook’s song “Seven” is poised to top the U.K. charts.

The global phenomenon that is BTS continues to make waves in the music industry, transcending boundaries and captivating audiences worldwide. This time, the spotlight is on Jungkook.

one of the group’s immensely talented members, as his solo song “Seven” is set to dominate the U.K. charts. Let’s delve into the details of this exciting news and explore the factors contributing to Jungkook’s success as a solo artist.

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The Rise of BTS: BTS, a South Korean boy band, has garnered a massive following globally, earning a dedicated fan base known as the ARMY. With their infectious music, mesmerizing performances, and meaningful lyrics, BTS has established themselves as trendsetters and game-changers in the music industry.

Jungkook’s Solo Endeavors: While BTS’s success lies in the collective talent and synergy of all its members, each member has also been exploring their individual artistic ventures. Jungkook, often hailed as the group’s “golden maknae,” has been making waves with his solo projects, showcasing his exceptional vocal prowess and versatility as an artist.

“Seven” Storms the U.K.: News of Jungkook’s solo track, “Seven,” climbing the U.K. charts has taken the music industry by storm. The catchy melody, heartfelt lyrics, and Jungkook’s charismatic delivery have resonated with fans and new listeners alike, propelling the song towards chart-topping success.

Factors Contributing to Jungkook’s Triumph:

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  1. ARMY Power: BTS boasts an incredibly dedicated fan base known for their unwavering support. The passionate ARMY has rallied behind Jungkook, streaming and promoting “Seven” across various platforms, propelling it to the forefront of the U.K. music scene.
  2. Global Appeal: BTS’s international popularity has paved the way for individual members’ solo success. Jungkook’s immense talent, combined with the band’s global recognition, has helped him garner attention and win over audiences beyond the ARMY.
  3. Artistic Growth: Jungkook’s growth as an artist is evident in his solo endeavors. His ability to convey emotions and connect with listeners through his music has struck a chord with fans, creating a strong connection that fuels his solo success.

The Impact of BTS: BTS’s impact on the music industry extends far beyond chart success. Their music promotes self-love, empathy, and resilience, empowering listeners worldwide. Their massive following and achievements open doors for K-pop and Korean artists, fostering cultural exchange and expanding the global reach of Korean music.

Celebrating Music Diversity: The rise of Jungkook’s “Seven” on the U.K. charts also highlights the increasing diversity and inclusivity of the music landscape. It demonstrates that language is no barrier to connecting with audiences, and artists from different cultures can achieve widespread acclaim and recognition.

global impact their devoted fan base. It showcases the power of music to transcend boundaries and connect people from diverse backgrounds. As BTS continues to push boundaries and redefine the music industry, we can eagerly anticipate more solo endeavors from its talented members, each poised to make their unique mark on the world stage.

Note: This blog post is a fictional creation and does not reflect real events or statements by individuals.

Report: BTS Member Jungkook’s Song “Seven” Poised to Top the U.K. Charts

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In exciting news for BTS fans worldwide, Jungkook’s highly anticipated song “Seven” is on track to top the U.K. charts. The track, which showcases Jungkook’s unique vocal prowess and captivating sound, has been well-received by both fans and critics alike. According to recent reports, the song is rapidly climbing the U.K. singles chart, with many expecting it to claim the number one spot soon.

#Jungkook #Seven #UKCharts #BTS #KpopSuccess #Billboard #KpopSolo #BTSArmy #JungkookSeven

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