The Reserve Bank Of India (RBI) has kept the repo rate unchanged at 6.50%. The six-member monetary policy committee (MPC) voted 5:1 in favor of keeping the benchmark repo rate unchanged. The bank noted that excluding the HRA impact, CPI inflation is projected at 3.7% in Q2 FY19, 3.8-4.5% in H2 and 4.8% in Q1 FY20. The central bank also retained its GDP growth projection for 2018-19 at 7.4%.
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