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Mumbai headquartered Reserve Bank of India announced First Bi-Monthly Monetary policy for the year financial year 2018-19.
Current Rates as announced are:
- Repo Rate – 6.00 (unchanged)
- Reverse Repo Rate – 5.75 (unchanged)
- CRR (Cash Reserve ratio) – 4%
- Bank Rate – 6.25%
- MSF (Marginal Standing Facility) – 6.25%
- SLR (Statutory Liquidity Ratio) – 19.50% (as per RBI official website)
- MPC revised upwards its forecast of real GDP growth from 7.2 % in its February 2018 Statement to 7.4 %, broadly in line with the forecast in the Economic Survey.
- Inflation in Q4 2017-18 has been revised downwards from 5.1 % to 4.5 %.
- Inflation forecast for H1 2018-19 has been revised downwards from 5.1 -5.6 percent to 4.4-4.7 percent, and from 4.5-4.6 percent to 4.4 percent in H2 2018-19.