RBI cuts repo rate by 25 bps.docx after Monetary Policy Committee meeting
DSIJ Intelligence / 02 Aug 2017
At its meeting today, the Monetary Policy Committee (MPC), on the basis of an assessment of the current and evolving macroeconomic situation, decided to reduce the policy repo rate under the liquidity adjustment facility (LAF) by 25 basis points from 6.25% to 6.0% with immediate effect.
At its meeting today, the Monetary Policy Committee (MPC), on the basis of an assessment of the current and evolving macroeconomic situation, decided to reduce the policy repo rate under the liquidity adjustment facility (LAF) by 25 basis points from 6.25% to 6.0% with immediate effect.
Consequently, the reverse repo rate under the LAF stands adjusted to 5.75%, and the marginal standing facility (MSF) rate and the Bank Rate to 6.25 per cent.
MPC decision is consistent with a neutral stance of monetary policy in consonance with the objective of achieving the medium-term target for consumer price index (CPI) inflation of 4% within a band of +/- 2%, while supporting growth.
Projection of real GVA growth for 2017-18 has been retained at the June 2017 projection of 7.3%.
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