The Reserve Bank Of India has released its Fifth Bi-monthly Monetary Policy Statement, 2017-18.
On the basis of an assessment of the current and evolving macroeconomic situation at its meeting, the Monetary Policy Committee (MPC) decided to:
- keep the policy repo rate under the liquidity adjustment facility (LAF) unchanged at 6.0 percent.
Consequently, the reverse repo rate under the LAF remains at 5.75 percent, and the marginal standing facility (MSF) rate and the Bank Rate at 6.25 percent. The decision of the MPC is consistent with a neutral stance of monetary policy in consonance with the objective of achieving the medium-term target for consumer price index (CPI) inflation of 4 percent within a band of +/- 2 percent while supporting growth.
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