RBI Policy Meet - What Urjit Patel said, from inflation to global economy

Reserve Bank of India today maintained the status quo by not altering the repo rate while it revealed that it would cut the SLR by 25 bps every quarter until it reaches 18 per cent. RBI Governor Urjit Patel said that the MPC evaluated current and evolving macro-economic condition and voted today to maintain the status quo. Here are 5 key highlights from Urjit Patel's press conference:

1. The global economy is likely slowing. The outlook is weighed down by decelerating global trade on the trade tensions and expectations of the slowing demand.

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2. Crude oil prices have declined by close to 30 per cent since the last policy meet reflecting higher supplies and easing of geo-political tension.

3. The recent retreat in energy prices and stabilizing of currencies, and tightening of policy stances by central banks may have a salutary impact on inflation, going forward.

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4. It's tough to ascertain now that how increased MSP and falling crude prices have affected inflation.

5. The growth of imports accelerated at a much faster pace than that of exports, resulting in net exports pulling down aggregate demand.