RBI Monetary Policy review 2018 on August 1: Repo rate hiked by 0.25%
RBI Monetary Policy review 2018: The Reserve Bank of India in its third bi-monthly monetary policy review on August 1 had raised interest rate by 0.25 per cent on inflationary concerns. Fourth Bi-monthly Monetary Policy Statement for 2018-19 will be announced today. Check out the highlights:
RBI in its third bi-monthly policy review raised repo rate by 0.25% to 6.5%. This is the short term rate at which RBI lends to other banks. Image source: Reuters
Monetary Policy Committee, headed by Guv Urjit Patel kept its stance at neutral. Image source: Reuters
RBI, for July-Sept, pegged CPI-based retail inflation at 4.2%. It saw this firming up to 4.8% in the second half of the current fiscal. Image source: Reuters
Projected inflation rate is above its targeted comfort level of 4%. Image source: Reuters
RBI kept the GDP forecast for the current fiscal unchanged at 7.4%. RBI outlook in the second half of the current fiscal is 7.5-7.6%. Image source: Reuters