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April 05, 2018

RBI's 1st Monetary Policy Review 2018-19 Highlights

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In it's first monetary policy meeting of the new fiscal year 2018-19, the Reserve Bank of India (RBI) today kept the Repo Rate unchanged at 6%. This the fourth time when the RBI maintained status quo on repo rate at 6%, which is lowest in over seven years since November 2010. The reverse repo rate remains at 5.75%, and the marginal standing facility (MSF) rate and the Bank Rate at 6.25%. Here are the complete highlights of RBI's Monetary Policy Report - April 2018.

RBI monetary policy April 2018 Highlights

  • RBI decided to maintain status quo for the fourth time in a row.
  • Policy Repo Rate under the liquidity adjustment facility (LAF) remained unchanged at 6.0%.
  • Reverse Repo Rate under the LAF remains at 5.75%
  • Marginal Standing Facility (MSF) rate as well as the Bank Rate stands at 6.25%.
  • The RBI remains firm on its neutral stance, from its earlier stand of being accomodative.
  • RBI revised the inflation projection to 4.7-5.1% in the first half of the financial year 2018-2019 and 4.4% in H2.
  • Dr Chetan Ghate, Dr Pami Dua, Dr Ravindra H Dholakia, Dr Viral V. Acharya and Dr Urjit R Patel voted in favour of the monetary policy decision. Dr Michael Debabrata Patra voted for an increase in the policy rate of 25 basis points.
  • The minutes of the Monetary Policy Committee (MPC)’s meeting will be published by April 19, 2018.
  • The next meeting of the Monetary Policy Committee (MPC) is scheduled on June 5 and 6, 2018.
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