Wednesday, July 28, 2021
News

RBI hikes repo rate by 25 basis points to 6.50%

   SocialTwist Tell-a-Friend    Print this Page   COMMENT

New Delhi [India] | August 1, 2018 3:41:33 PM IST
The Reserve Bank of India (RBI) on Wednesday hiked the repo rate by 25 basis points to 6.50 percent while maintain neutral stance on the stability in the market.

The six member Monetary Policy Committee (MPC) said that its decision is consistent with the neutral stance of monetary policy in consonance with the objective of achieving the medium-term target for consumer price index (CPI) inflation of 4 percent.

The MPC added that the volatility in global financial markets continues to impart uncertainty to the inflation outlook.

Highlighting the inflation, the MPC projected 4.6 percent in Q2FY19, 4.8 percent in H2 of FY19 and 5 percent in Q1FY20.

The MPC also said that in case there is a fiscal slippage at the centre or state level, it could have adverse implications for market volatility, crowd out private investment and impact the outlook for inflation.

In the last policy, the RBI has projected the real Gross Domestic Product (GDP) growth in FY19 is seen at 7.4 percent as against 6.6 percent in FY18.

The apex bank said that the models suggests FY20 real GDP growth will range from 7.4 percent to 7.9 percent. (ANI)

 
  LATEST COMMENTS ()
POST YOUR COMMENT
Comments Not Available
 
POST YOUR COMMENT
 
 
TRENDING TOPICS
 
 
CITY NEWS
MORE CITIES
 
 
 
MORE BUSINESS NEWS
IL&FS invites EoI for subsidiary Ramagir...
Global cues, pharma sector woes pull mar...
IndusInd Bank YoY Q1FY22 consolidated ne...
IndiGo's Q1FY22 net loss widens to Rs 3,...
Groupe ADP, GMR execute industrial partn...
Centre confirms French order to freeze I...
More...
 
INDIA WORLD ASIA
Two Nigerians among six drug-peddlers ar...
'Mediation the best solution': SC on Kir...
Cong delegation meets Goa Guv, demands d...
Yediyurappa reaches legislature party me...
Kerala: Catholic diocese in Pala announc...
Himachal Governor expresses pain at natu...
More...    
 
 Top Stories
Russia confirms 23,032 new Covid ca... 
Rajasthan launches 'Niryatak Bano' ... 
Gurugram DC issues directions to re... 
Initiatives taken to popularise Ayu... 
Own up ward, village secretariats, ... 
MoES launches new Earth System Scie... 
AP's Disha app helps parents find '... 
Groupe ADP, GMR execute industrial ...