On
the basis of an assessment of the current and evolving macroeconomic situation
at its meeting today, theMonetary Policy Committee (MPC) decided to:
o Keep the policy repo rate under the liquidity
adjustment facility (LAF) unchanged at 6.0 per cent.
Consequently,
the reverse repo rate under the LAF remains at 5.75 per cent, and the marginal
standing facility (MSF) rate and the Bank Rate at 6.25 per cent.
The
decision of the MPC is consistent with a neutral stance of monetary policy in
consonance with the objective of achieving the medium-term target for consumer
price index (CPI) inflation of 4 per cent within a band of +/- 2 per cent,
while supporting growth. The main considerations underlying the decision are
set out in the statement below.
|
CURRENT
RATES
|
||
|
POLICY RATES
|
BANK RATE
|
6.25 %
|
|
REPO RATE
|
6 %
|
|
|
REVERSE REPO RATE
|
5.75 %
|
|
|
MARGINAL STANDING FACILITY RATE
|
6.25 %
|
|
|
RESERVE RATIO
|
CRR
|
4 %
|
|
SLR
|
20 %
|
|
|
LENDING RATE
|
BASE RATE
|
9 – 9.55 %
|
The next meeting of the
MPC is scheduled on December 5 and 6, 2017.
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