Reserve Bank of India hikes repo rate, keeps most key interest rates stable
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The Reserve Bank of India (RBI) has hiked the repo rate by 0.25 percent to 7.25 percent, keeping the reverse repo rate unchanged at 6%. The Bank rate and the cash reserve ratio are left unchanged at 6% and 5% respectively. In its mid-year review of monetary and regulatory policy, the Reserve Bank has forecast an annual GDP growth of 8.0%, as against the 7.5-8.0% forecast earlier in its annual policy statement and first quarter review. The Reserve Bank indicated that inflation will be contained between 5.0-5.5%, during the year 2006-07. The
The Reserve Bank of India (RBI) has hiked the repo rate by 0.25 percent to 7.25 percent, keeping the reverse repo rate unchanged at 6%.
The Bank rate and the cash reserve ratio are left unchanged at 6% and 5% respectively.
In its mid-year review of monetary and regulatory policy, the Reserve Bank has forecast an annual GDP growth of 8.0%, as against the 7.5-8.0% forecast earlier in its annual policy statement and first quarter review. The Reserve Bank indicated that inflation will be contained between 5.0-5.5%, during the year 2006-07.
The Reserve Bank estimated real GDP growth in the first quarter of 2006-07 at 8.9%, up from 8.5% last year.
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Licensed archive reporting by Wikinews contributors. Text: CC BY 2.5 (https://creativecommons.org/licenses/by/2.5/). Original source date retained. 411 has not independently verified this archive report.
Read the source: Wikinews ↗Source published 31 Oct 2006, 05:30 am IST
