Highlights of RBI’s fifth bi-monthly monetary policy statement
Following are the highlights of fifth bi-monthly monetary policy statement, 2017-18
released by the Reserve Bank of India:
* Key interest rate (repo) kept unchanged at 6 percent.
* Reverse repo rate remains at 5.75 percent.
* Marginal standing facility rate and Bank Rate 6.25 percent.
* Rate was decided by a vote of 5-1 in MPC.
* Inflation forecast raised to 4.3-4.7 percent in Q3 and Q4.
* MPC committed to keeping inflation close to 4 percent on a durable basis.
* Economic growth forecast for 2017-18 unchanged at 6.7 percent.
* RBI sounds caution on fiscal slippages.
* Next MPC meeting on February 6 and 7, 2018.
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