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RBI Governor Urjit Patel Addresses the Press Conference | MPC Hikes Repo Rate by 25 BPS to 6.50%

1,543 views · Published 1 August 2018 · 26:28 · Indexed 14 November 2026

Channel: CNBC-TV18 · 2018 · News & Politics

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#RBIPolicy | As expected, the Reserve Bank of India has hiked repo rate by 25 basis points to 6.50 percent. Reverse repo rate stands at 6.25 percent and MSF at 6.75 percent. The RBI's MPC maintains its neutral stance with objective of achieving 4 percent CPI in medium-term. On inflation, the RBI has lowerd CPI forecast to 4.6% for the first half of the current  fiscal, from the earlier projected 4.8-4.9 percent. CPI forecast for the second half is raised to 4.8 percent vs 4.7 percent from the earlier projected estimates. CPI inflation is projected at 5% for Q1 FY20 with risks evenly balanced.

Dr. Chetan Ghate, Dr. Pami Dua, Dr. Michael Debabrata Patra, Dr. Viral V. Acharya and Dr. Urjit R. Patel voted in favour of the decision, while Dr. Ravindra H. Dholakia voted against the decision. 

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