Repo Rate increased by 50 basis points from 8.5% to 9.00%. Repo Rate increased by 50 basis points from 8.5% to 9.00%.
Repo Rate increased by 50 basis points from 8.5% to 9.00%.
Cash Reserve Ratio (CRR) to be increased by 25 basis points to 9.0% with effect from the fortnight beginning August 30, 2008.
GDP growth projection for 2008-09 revised from the range of 8.0-8.5% to around 8.0%, barring domestic or external shocks.
While the policy actions would aim to bring down the current intolerable level of inflation to a tolerable level of below 5% as soon as possible and around 3% over the medium-term, at this juncture a realistic policy endeavour would be to bring down inflation from the current level of about 11-12% to a level close to 7% by March 31, 2009.
Cash Reserve Ratio (CRR) to be increased by 25 basis points to 9.0% with effect from the fortnight beginning August 30, 2008.
GDP growth projection for 2008-09 revised from the range of 8.0-8.5% to around 8.0%, barring domestic or external shocks.
While the policy actions would aim to bring down the current intolerable level of inflation to a tolerable level of below 5% as soon as possible and around 3% over the medium-term, at this juncture a realistic policy endeavour would be to bring down inflation from the current level of about 11-12% to a level close to 7% by March 31, 2009.
Comments