RBI policy an anticlimax: Repo rate unchanged
DSIJ Intelligence / 07 Dec 2016
On the basis of an assessment of the current and evolving macroeconomic situation at its meeting today, the Monetary Policy Committee (MPC) decided to keep the policy repo rate under the liquidity adjustment facility (LAF) unchanged at 6.25 per cent.
On the basis of an assessment of the current and evolving macroeconomic situation at its meeting today, the Monetary Policy Committee (MPC) decided to keep the policy repo rate under the liquidity adjustment facility (LAF) unchanged at 6.25 per cent. Consequently, the reverse repo rate under the LAF remains unchanged at 5.75 per cent, and the Marginal Standing Fcility (MSF) rate and the Bank Rate at 6.75 per cent.
The decision of the MPC is in conjunction with an accommodative stance of monetary policy in consonance with the objective of achieving consumer price index (CPI) inflation at 5 per cent by Q4 of 2016-17 and the medium-term target of 4 per cent within a band of +/- 2 per cent, while supporting growth.
The markets on the other hand have reacted sharply. Sensex as at 2.34 pm has fallen 149 points and Nifty is down by 51.25 points.
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