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Aug 01, 2018, 16:42
RBI increases repo rate by 25 basis points
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On 1st August 2018, India’s Monetary Policy Committee (MPC) decided to increase the benchmark interest rate by 25 basis points to 6.5% from 6.25%. The Monetary Policy Committee has increased the policy rates for the first time since 2014 to overcome price pressure and to bring inflation closer to medium-term target of 4 (+/- 2 percent).     


The MPC increases the repo rate by 25 basis points to 6.5%. The reverse repo rate escalated to 6.25% by 25 bps.


The MPC expects an inflation in Consumer Price Index (CPI) at 4.6% in Q2FY19, 4.8% in H2FY19, and 5% in Q1FY20. Further, MPC estimates GDP growth at 7.4% for FY19.

 

In May 2018, the core inflation increased to 6.3% against 6.1% in April 2018. Headline inflation saw an increment up to 5%.

 

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