Diabytes
RBI Monetary policy review News
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The MPC met on April 3, 5 and 6 this year and decided to pause on the repo rate at 6.50 per cent after hiking continuously earlier as an inflation control measure.
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Contrary to expectations, the Reserve Bank of India on Thursday decided to keep the repo rate unchanged following a meeting of its Monetary Policy Committee (MPC).
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RBI is scheduled to announce its sixth bi-monthly monetary policy for 2018-19 on February 7.
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Suggestions come ahead of the sixth bi-monthly monetary policy statement for 2018-19 scheduled to be announced on February 7.
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Gaur expects the RBI to cut rate in the next policy review after a neutral review for the second straight time.
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In the Fifth Bi-Monthly Monetary Policy Review for 2017- 18, where it left the key policy rate unchanged, the central bank sounded confident of the economy achieving its previous growth estimate of 6.7 percent on a gross value-added basis, with risks evenly balanced.
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RBI raised the inflation estimate to 4.3-4.7 percent, from the earlier projection of 4.2-4.6 percent, for the second half of the current financial year.
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Interest-sensitive stocks took a beating, dragging the BSE banking index down by 0.49 percent. SBI, ICICI Bank, Axis Bank, HDFC Bank, Bank of Baroda and Yes Bank fell by up to 1.44 per cent.
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RBI has kept the key interest rate unchanged, on the expected lines.
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Policy repo rate under LAF unchanged at 6.0 percent.
Reverse repo rate under the LAF remains at 5.75 percent.
MSF rate and Bank Rate remains at 6.25 percent.
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Economists believe a status quo would be right thing to do by the RBI.
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The MPC meeting outcome is being keenly awaited by all stakeholders including the industry and stock markets.
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The broader NSE Nifty closed 0.09 percent lower at 10,118.25 while the benchmark BSE Sensex ended 0.2 percent lower at 32,802.44.
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The Monetary Policy Committee (MPC), headed by RBI Governor Urjit Patel, will meet on December 5 and 6 for the Fifth Bi-monthly Monetary Policy Statement for 2017-18.
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Risk-taking activity was muted on sustained selling by foreign portfolio investors.
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The BSE Sensex, which rose 174 points yesterday after the Reserve Bank decided to hold rates in line with expectations, had gained 512 points in the previous four sessions.
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Traders said the dollar's renewed strength against other currencies overseas weighed on the rupee, but a higher opening in domestic equities limited the impact.
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In its last review in August the Reserve Bank had slashed the benchmark lending rate by 0.25 percentage points to 6 per cent, the lowest in six years.
Real interest rates remain unduly high and a cut in policy and lending rates would have helped propel demand for interest sensitive sectors such as consumer durables, auto and housing
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