At its last policy meeting on 18 June, the Reserve Bank of India (RBI) left the repo rate unchanged at 8.00% and the reverse repo rate at 7.00%, in a decision that surprised the market, which had widely anticipated a 25 basis-point cut. The Bank also left the cash reserve ratio unchanged at 4.75%. According to RBI, although latest data point to a deterioration in global macroeconomic and financial conditions, the Bank had already
India Monetary Policy
Central Bank remains on hold unexpectedly
June 19, 2012
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India Monetary Policy Chart
Note: Reserve Bank of India (RBI) Repo Rate in %.
Source: Reserve Bank of India (RBI).
India Economic News
October 17, 2016
Recently-released data related to India’s external sector showed that the trade deficit totaled USD 8.3 billion in September, which was a smaller shortfall than the USD 10.2 billion gap recorded in September 2015 (August 2016: USD 7.7 billion deficit).
October 15, 2016
In September, consumer prices fell 0.23% from the previous month, which followed August’s flat growth.
October 12, 2016
The fall in industrial production moderated in August, after recording the largest contraction since November 2015 in July.
October 5, 2016
Activity in India’s manufacturing sector lost steam in September.
October 4, 2016
The newly facelifted Reserve Bank of India (RBI) decided to ease monetary policy at a scheduled meeting on 4 October, cutting the repurchase rate from 6.50% to 6.25%—an over five-year low.