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RBI cuts repo rate by 25 bps; keeps CRR unchanged

Discussion in 'Stock Market News & Analysis' started by chetanepic, Apr 5, 2016.

  1. chetanepic

    chetanepic New Member

    Jan 9, 2016
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    Intraday Trader
    The Reserve Bank of India (RBI) today heard the government's clarion call, cutting its policy repo rate by 25 basis points to bring it down to 6.50 percent at the first bi-monthly monetary policy meeting of the fiscal year.

    As expected, the RBI said it would maintain an 'accomodative stance' on monetary policy, meaning it was open to more rate cuts in future depending on macroeconomic conditions.

    "Further monetary policy decisions will be driven by outcome of the monsoon, monetary policy transmission, trajectory of core inflation," said RBI chief Raghuram Rajan at the post-meet press conference.

    Repo rate is the rate at which the central bank lends to banks. CRR and SLR are percentage of liabilities that banks have to hold in cash and liquid assets, respectively.

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