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Repo rate hike to cool inflation
RBI raised its key short-term lending rate on Wednesday to its highest in nearly four years, as expected, to rein in inflation and temper strong demand for loans. Read on		 Statement by Dr. Y.V.Reddy
Statement by Dr. Y. Venugopal Reddy, Governor, Reserve Bank of India on the Third Quarter Review of Annual Monetary Policy for the Year 2006-07. Check out


Highlights

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

Key rates
Jul
2006
Oct
2006
Jan
2007
CRR
5
5
5
Repo Rate
7%
7.25%
7.5%
Reverse Repo
6%
6%
6%
Bank Rate
6
6
6
• RBI hikes repo rate by 25 bps to 7.5%
• RBI leaves CRR unchanged at 5.5%
• FY07 inflation target seen at 5-5.5%
• RBI keeps bank rate unchanged at 6%
• Repo rate is rate at which RBI lends money to banks

Managing liquidity
The RBI will have to use monetary tools to manage the money market situation, says Minna Kumar

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Inflation target
The RBI aims to bring the inflation rate in the range of 5-5.5 per cent at the earliest, while the medium-term goal is bring it down to 5%. Find out
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A macroeconomic policy tool used to influence interest rates, inflation, and credit availability through changes in the supply. View Slideshow
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