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RBI has maintained status quo on policy rate. The repo rate, rate at which the central bank lends to bank, has been kept unchanged at 6%. Reverse repo rate has also been kept unchanged at 5.75%.
Monetary Policy Committee (MPC) votes 5-1 in favor of keeping repo rate unchanged at 6%. FY18 GVA growth is projected at 6.6% from 6.7%. FY19 GVA growth is forecasted at 7.2%. Marginal standing facility (MSF) rate unchanged at 6.25%.
CPI Inflation 2018-19 is projected in the range of 5.1-5.6% in H1, including diminishing statistical HRA impact of central employees and 4.5-4.6% in H2. MPC estimates inflation at 5.1% in Q4, including the HRA impact.
