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Interest rate unchanged

RBI keeps key interest rates unchanged
Contary to the popular expectation of a rate cut inline with the US Fed rate cut, RBI kept all key interest rates unchanged keeping in mind importance of keeping financial and price stability.Maintaining status quo in its stance, RBI, in its third quarter review of credit policy, also kept growth projection unchanged at 8.5 per cent and inflation close to 5 per cent in 2007-08.
Bank and Auto stocks which went up yerterday amid speculation of a rate cut by RBI have reacted negatively and are down considerable. At 1.30 PM IST BANKEX is at 11048.93 down by 472.29 points and BSE Auto index is down by 50.66 points at 4875.48.

RBI Policy Highlights
  • Bank rate, repo rate, reverse repo rate unchanged
  • Key policy rates unchanged
  • Repo rate unchanged at 7.75%
  • Revese repo rate unchanged at 6%
  • CRR unchanged at 7.50%
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