Highlights

  • RBI's focus remains on the vulnerable
  • Reverse repo rate unchanged at 3.35%

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RBI monetary policy: No change in rates as focus remains on growth

Repo rate remains unchanged at 4%

RBI monetary policy: No change in rates as focus remains on growth

The Reserve Bank of India(RBI) surprised the street pleasantly by keeping rates stable on the borrowing and lending front. The message was clear, growth needs all the support it can get.

Here are the top highlights:

RBI voted to keep repo rate unchanged at 4% (unanimously)

• RBI keeps reverse repo rate unchaned as well

• Accommodative stance retained by 5-1 vote.

• High frequency indicators show slowdown in business

• RBI sees FY23 growth at 7.8%

• Expect food prices to continue edging lower

• Rising crude prices pose significant problem

• RBI asserts - Continued policy is warranted for broad based recovery

Also Watch: FD rate hike: Time to start saving - get all the details here

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