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Mid-quarterly monetary policy review

CRR and Interest Rates
(Source: RBI) (% per annum)

Key rates

Sep 16th
Oct 25th
Dec 16th
CRR
6.00
6.00
6.00
Repo Rate
8.25
8.50
8.50
Reverse Repo
7.25
7.50
7.50
..........................................................................................
RBI view
The Reserve Bank of India cannot speculate on when it will cut interest rates: Governor Duvvuri Subbarao
..........................................................................................
Finance Minister's view
'The RBI decision to leave interest rates unchanged will help regain the country's economic growth momentum'
Credit Policy - Governor of RBI, D. Subbarao
Policy measures:
• Repo rate stays at 8.5%
• Reverse Repo at 7.5%
• Cash reserve ratio unchanged at 6%
• The RBI left the cash reserve ratio (CRR) unchanged at 6 percent, despite market speculation that it might cut the ratio in order to bolster market liquidity.
• >>More
..........................................................................................
Expert View
'The decision clearly reflects that inflation continues to remain their anchoring point in terms of policy decisions, and they are not averse to sacrifice some growth for this'
..........................................................................................
Industry view
If RBI, in their next announcement, lower the repo or reverse repo (rate), or improve liquidity by cutting the CRR, then the situation improves. At this time, I don't think there is any fundamental change - H.D. Khunteta, REC