The BSE Sensex, which opened strong at 34,932.49, fell immediately after RBI's policy announcement but soon recovered to touch the day's high of 35,230.54.
Reserve Bank of India (RBI) projects inflation for 2018-19 at 4.8- 4.9% in first half and 4.7% in the second half of the year, projection for GDP is 7.5-7.6 in first half and 7.3-7.4 in the second half.
With all the six members voting for an increase in policy rates, the Monetary Policy Committee raised "repo rate by 25 basis points and kept the stance neutral", RBI said in a statement.
This is its biggest single day gain since March 12 when it had rallied 610.80 points. The gauge had lost 351.56 points in the previous session.
The Monetary Policy Committee (MPC), headed by RBI Governor Urjit Patel, had last reduced the benchmark lending rate by 0.25 percentage points to 6 per cent last August, bringing it to a 6-year low.
RBI's monetary policy announcement on Thursday will be the first after the Union Budget 2018-19.
According to global financial services major UBS, the tone of the policy statement by the RBI’s monetary policy committee (MPC) is expected to “remain cautious while maintaining a neutral policy stance”.
Announcing the policy review, the RBI said its decision is consistent with the neutral stance of the central bank aimed at achieving its median inflation target of 4%.
The RBI also lowered the economic growth projection to 6.6 per cent for 2017-18 from the previous 67 per cent. It estimated 7.2 per cent growth in the next fiscal.
RBI today kept the policy rate unchanged at 6 per cent on expected lines but raised the inflation forecast for remainder of the current financial year to 4.3-4.7 per cent.
The Monetary Policy Committee, headed by RBI Governor Urjit Patel, today decided to keep the key policy rates unchanged, while marginally slashing its growth projection for the current fiscal
The Reserve Bank of India (RBI) may have maintained status quo on the repo rate in its fifth bi-monthly policy meet but there is still scope available with banks to lower the lending rates, providing
In the last monetary policy review by Reserve Bank of India Governor, Raghuram Rajan on Tuesday decided against changing the key interest rates as the retail inflation continues to be above the comfort zone.
New Delhi: The Reserve Bank of India (RBI) today cut repo rate by 50 basis points (bps) to 6.75% to help support the domestic economy.This comes at a time when consumer inflation is at a
Navi Mumbai: RBI will have more room to cut repo rate if monsoon continues to progress at the current pace and inflation is kept under control, State Bank of India (SBI) Chairman Arundhati Bhattacharya today
RBI cuts repo rate by 25 bps, CRR unchangedGiving in to overwhelming demands for an easing of the monetary policy, the Reserve Bank of India (RBI) on Monday lowered its short-term lending rate by 25
New Delhi: The Reserve Bank of India today slashed its short-term lending rate by 25 basis points in its bi-monthly monetary policy review. After the cut, the repo rate will decline to 7.25 per cent
Mumbai: Giving in to overwhelming demands for an easing of the monetary policy, the Reserve Bank of India (RBI) on Monday lowered its short-term lending rate by 25 basis points in a move that could
New Delhi: RBI is expected to cut its policy rate on Tuesday to prop up economic activity and boost investment as inflation remains low and fiscal deficit has been contained.Deflationary pressure persisted for the sixth
Kolkata: Former Union Finance Minister and senior BJP leader Yashwant Sinha today welcomed the Reserve Bank of India's decision to cut the key policy rate by 25 basis points and described it as a ‘positive
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