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Highlights of RBI monetary policy
The third bi-monthly monetary policy statement of 2018-19 issued today by the Reserve Bank of India:
Mumbai: Following are the highlights of the third bi-monthly monetary policy statement of 2018-19 issued today by the Reserve Bank of India:
Also Read: RBI retains GDP growth forecast at 7.4 pc for FY'19
RBI hikes key interest rate (repo) by 25 bps to 6.5 per cent * It is 2nd consecutive hike in short-term lending rate * Consequently, reverse repo rate stands at 6.25 pc * New marginal standing facility rate is 6.75 pc * Monetary policy stance to remain neutral * GDP growth seen at 7.5-7.6 per cent for April-September period; * GDP growth projection retained at 7.4 pc for 2018-19; * Retail inflation pegged at 4.8 pc for second half of current fiscal; * 5 MPC members voted in favour of rate hike, one against * Next 3-day MPC meeting from Oct 3; * 4th bi-monthly monetary policy statement on Oct 5; * RBI to make minutes of today's meeting public on Aug 16. (PTI)