Highlights of RBI monetary policy
The highlights of the first bi-monthly monetary policy announced by the RBI on Thursday.
Mumbai: Following are the highlights of the first bi-monthly monetary policy announced by the RBI on Thursday:
1. Short-term lending rate (repo) reduced by 25 bps to 6 pc;
2. This is second back-to-back rate cut;
3. RBI maintains Neutral stance on the monetary policy;
4. Four out of six MPC members voted in favour of rate cut;
5. GDP growth projection lowered to 7.2 pc for 2019-20;
6. RBI revises downward retail inflation estimate to 2.4 pc in Q4 FY19.
7. MPC notes output gap remains negative and domestic economy facing headwinds;
8. Next monetary policy statement on June 6. (PTI)