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Monetary policy highlights: Growth not at pre-pandemic level yet, says RBI
RBI Monetary policy highlights: RBI announcement comes against the backdrop of Covid-19 infections receding in recent days and the economy stablising. Stay tuned for all the LIVE updates
Topics
Reverse Repo Rate | RBI monetary policy | RBI
BS Web Team |
Last Updated at October 8, 2021 13:13 IST
EVENT HIGHLIGHTS
The Reserve Bank of India's (RBI's) six-member monetary policy committee (MPC), headed by Governor Shaktikanta Das, kept the key lending rate — repo rate unchanged at 4 per cent for the eighth time in a row. Reverse repo rate remained unchanged at 3.5 per cent. The central bank retained FY22 GDP growth forecast at 9.5 per cent.
The MPC voted 5-1 to retain the accommodative stance as long as necessary to sustain growth on a durable basis, while ensuring that inflation remains within the target, RBI Governor Shaktikanta Das said on Friday.
Key highlights from RBI governor Shaktikanta Das' address:
— RBI will maintain accomodative stance
— Repo rate, reverse repo rate maintained at 4% and 3.35% respectively
— RBI Stops G-SAP Operations
It will, however, continue to conduct open market operations as needed.
— RBI has stepped up the pace of variable rate reverse repo auctions.
— The RBI has maintained the FY22 GDP growth forecast at 9.5%.
Stay tuned for RBI Monetary policy LIVE updates
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