Another policy rate hike by RBI
By Vaibhav Aggarwal
Mar 18, 2011
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In the recent monetary policy review by Reserve Bank of India, the policy rates have witnessed yet another set of rise by 25 basis points.

The apex bank has raised repo as well as reverse repo rates by 25 bps each taking them to 6.75% and 5.75% respectively.

The rise in policy rates has been made in a bid to lower the still towering inflation figures. But with this rise, an increase in retail loan rates is also expected.

The cash reserve ratio (CRR) has however been kept consistent at 6%.

"After a slight moderation in January, headline WPI inflation reversed in February 2011 accompanied by a sharp increase in non-food manufactured products inflation," the RBI said in its mid-quarterly review.

"Based on the current and evolving growth and inflation scenario, the Reserve Bank is likely to persist with the current anti-inflationary stance," it said.


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