The Reserve Bank of India (RBI) left its key policy rate unchanged today taking apprehension of the recent rise in inflation which puts the consumer price index uncomfortably close to the upper tolerance threshold of 6% as mandated by the government.
The cash reserve ratio (CRR) was also kept unchanged at 4%.
Listing reasons for maintaining a status quo, RBI Governor Raghuram Rajan said that incoming data show a sharper-than-anticipated upsurge in inflationary pressures emanating from a number of food items (beyond seasonal effects), as well as a reversal in commodity prices.
“The RBI will monitor macroeconomic and financial developments for any further scope for policy action,” Rajan said while unveiling the second bi-monthly policy statement for 2016-17.
Detail Article to follow soon
Thanks
Exam Magazine
The cash reserve ratio (CRR) was also kept unchanged at 4%.
Listing reasons for maintaining a status quo, RBI Governor Raghuram Rajan said that incoming data show a sharper-than-anticipated upsurge in inflationary pressures emanating from a number of food items (beyond seasonal effects), as well as a reversal in commodity prices.
“The RBI will monitor macroeconomic and financial developments for any further scope for policy action,” Rajan said while unveiling the second bi-monthly policy statement for 2016-17.
Detail Article to follow soon
Thanks
Exam Magazine
0 comments:
Post a Comment