Highlights of the RBI's third quarter review of monetary policy
Following are the highlights of RBI's third quarter review of monetary policy:
* Key lending rates hiked by 0.25 per cent to 8%
* Cash reserve ratio kept unchanged at 4%
* Marginal Standing Facility (MSF) rate stands at 9%
* GDP growth to be less than 5% in current fiscal
* Growth to improve to 5.5% in 2014-15
* Current Account Deficit to be below 2.5% this fiscal
* March-end inflation could exceed 8%
* Rate hike will set economy securely on disinflationary path
* Growth likely to lose momentum in Q3 of 2013-14.
* Slowdown in economy getting increasingly worrisome
* Inflation is a tax that is grossly inequitable, falling hardest on the very poor
* Fiscal and monetary authorities should continue to work for macroeconomic stabilisation
* Henceforth, policy review to take place every two months. Next review on April 1.
Following are the highlights of RBI's third quarter review of monetary policy:
* Key lending rates hiked by 0.25 per cent to 8%
* Cash reserve ratio kept unchanged at 4%
* Marginal Standing Facility (MSF) rate stands at 9%
* GDP growth to be less than 5% in current fiscal
* Growth to improve to 5.5% in 2014-15
* Current Account Deficit to be below 2.5% this fiscal
* March-end inflation could exceed 8%
* Rate hike will set economy securely on disinflationary path
* Growth likely to lose momentum in Q3 of 2013-14.
* Slowdown in economy getting increasingly worrisome
* Inflation is a tax that is grossly inequitable, falling hardest on the very poor
* Fiscal and monetary authorities should continue to work for macroeconomic stabilisation
* Henceforth, policy review to take place every two months. Next review on April 1.
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