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RBI monetary policy review: Key highlights

Last Updated: Tuesday, July 30, 2013 - 11:49

Mumbai: Following are the highlights of RBI's first-quarter monetary policy review:

* Key short term lending rate (repo rate) kept unchanged at 7.25 percent

* Cash reserve ratio too unchanged at 4 percent

* Cuts GDP forecast for FY'14 to 5.5 percent from 5.7 percent earlier

* Rupee depreciation a threat to inflation

* Tight liquidity measures to be rolled back once Rupee stabilises

* To use all instruments to keep March-end inflation at 5 percent

* Policy measures aimed at addressing risks to macroeconomic stability from external sector,

* Biggest threat to macroeconomic stability stems from the external sector

* Immediate structural steps needed to contain the current account deficit

* International crude oil prices are firming up

* Growth, inflation to determine future policy actions

* This is RBI Governor D Subbarao's last policy before expiry of his five year term

* Next mid-quarter review of policy on September 18; second quarter policy review on October 29.


First Published: Tuesday, July 30, 2013 - 11:49
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